Brazil unemployment improves in October

RIO DE JANEIRO, Brazil (AP) -- Officials say Brazil shed fewer jobs this October, suggesting the global financial crisis has not yet hit Brazil's labor market.

The national statistics institute says October unemployment fell to 7.5 percent from 8.7 percent in the year-ago period, bringing joblessness to its second-lowest level in six years.

Government unemployment researcher Cimar Azeredo says the report shows the world economic slowdown hasn't yet forced mass layoffs in Brazil.

Brazil's finance minister this month downgraded growth forecasts for 2009 from 5 percent to 4 percent, as demand for Brazilian exports falls and credit remains tight.

Joblessness hit 7.4 percent in December 2007, its lowest level since 2002.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to webmaster@wvlt-tv.com. Please provide detailed information.

powered by Disqus

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Gray Television, Inc. - Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 34744689 - local8now.com/a?a=34744689