End of Temporary Jobs Ups Unemployment in Brazil

Unemployment in the six major metropolitan regions of Brazil rose to 9.2% in January, compared to 8.3% in December, reports the government statistical bureau.

According to the IBGE (Instituto Brasileiro de Geografia e Estatí­stica) this number is the result of the end of the holiday season and many temporary jobs.

However, the IBGE points out that the January unemployment rate is the second lowest since March 2002 when the institute began its surveys of the job market (this December’s rate of 8.3% was the lowest ever).

Compared to January 2005, formal market jobs were up 6.4%. Informal market jobs were down 3.8%, compared to December 2005.

In January, average wages were down 1.2%, compared to December. But they were up 2.3%, compared to January 2005.

ABr