RIO DE JANERIO--Brazil's unemployment rate was stable in May after four straight months of increase, as the labor market remained relatively strong despite the country's economic slowdown.
Unemployment in Brazil's six largest cities stood at 5.8% in May, unchanged from April, the Brazilian Institute of Geography and Statistics, or IBGE, said Thursday.
The rate was slightly higher than expected. Economists had anticipated a 5.7% unemployment rate, according to the median estimate in a survey by the local Agencia Estado news service.
Average salaries, meanwhile, declined 0.3% last month from April to 1,863.60 Brazilian reais ($836.93) while remaining 1.4% above May 2012 levels.
Brazil's unemployment rate has hovered around record-low levels in recent quarters, despite the economy's underperformance since 2011.
Economists say a tight labor market has contributed to inflationary pressure and helped to keep Brazil's consumer price index near the 6.5% ceiling of the central bank's tolerance range.
nasdaq.com
Unemployment in Brazil's six largest cities stood at 5.8% in May, unchanged from April, the Brazilian Institute of Geography and Statistics, or IBGE, said Thursday.
The rate was slightly higher than expected. Economists had anticipated a 5.7% unemployment rate, according to the median estimate in a survey by the local Agencia Estado news service.
Average salaries, meanwhile, declined 0.3% last month from April to 1,863.60 Brazilian reais ($836.93) while remaining 1.4% above May 2012 levels.
Brazil's unemployment rate has hovered around record-low levels in recent quarters, despite the economy's underperformance since 2011.
Economists say a tight labor market has contributed to inflationary pressure and helped to keep Brazil's consumer price index near the 6.5% ceiling of the central bank's tolerance range.
nasdaq.com
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