Brazil unemployment rate drops to lowest in Oct

Unemployment in Brazil fell to 8.3 per cent in the three months ending in October, 0.8 percentage points lower than the previous three months and 3.8 percentage points lower than the same period last year.

The state-run Institute of Geography and Statistics said on Wednesday that there were 9 million registered unemployed people in October, the lowest for the three months ending in October since 2014 and the lowest level of unemployed registered this year, reports Xinhua news agency.

Meanwhile, the employed population reached 99.7 million, a record high since the data began to be tracked in 2012, and an increase of 1 per cent compared to the previous three months and 6.1 per cent year-on-year.

The average monthly wage in Brazil grew by 2.9 per cent compared to the previous three-month period and by 4.7 per cent year-on-year to reach 2,754 reals ($531).

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