Jobless in Brazil Grow to 2.3 Million: a 10.4% Unemployment Rate

The unemployment rate in the six largest Brazilian metropolitan areas was 10.4% in March, a rate viewed as stable in relation to February (10.1%), according to an announcement April 20 by the Brazilian Institute of Geography and Statistics (IBGE).

The total number of unemployed persons rose, however, from 2.232 million to 2.314 million.

For the first three months of 2006, the overall unemployment rate was 9.9%, the lowest since 2002, when the Monthly Employment Survey initiated its new historical series.

The IBGE also reported that the number of formal workers (with signed work papers) in the private sector grew 4.2% in comparison with March, 2005.

The average worker’s salary was estimated at US$ 473.72 (1,006.80 reais), 0.5% more than in February and 2.5% more than in March, 2005.

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