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Record low unemployment in 2011
Unemployment in December was 4.7 %
Unemployment in December
was, for the second consecutive
month, at a new record
low in December. The formal unemployment was
only 4.7% in the month. It was
a 0.5 %-points
lower than the former
record from November
2011.
The development in unemployment is seen at the graph, which also shows that unemployment is traditionally lowest in the last months of the year due to seasonal work.
Throughout 2011 the unemployment rate was only 6%, also a new record low and 0.8 %-points lower than in 2010.
In 2011, a total of 1.94 million new jobs were created. That was 24% less jobs created compared to 2010. The declining job growth is easing the hot job market.
It is believed that more than 50% of Brazil's workforce is employed in informal jobs that are not included in unemployment survey. Thus, a low formal unemployment of 4.7% can not be directly compared with figures from other western countries.
The development in unemployment is seen at the graph, which also shows that unemployment is traditionally lowest in the last months of the year due to seasonal work.
Throughout 2011 the unemployment rate was only 6%, also a new record low and 0.8 %-points lower than in 2010.
In 2011, a total of 1.94 million new jobs were created. That was 24% less jobs created compared to 2010. The declining job growth is easing the hot job market.
It is believed that more than 50% of Brazil's workforce is employed in informal jobs that are not included in unemployment survey. Thus, a low formal unemployment of 4.7% can not be directly compared with figures from other western countries.