Brazil: Unemployment fell to 6.9% in July

The unemployment rate in Brazil stood at 6.9% of the workforce in July, the best July results since the beginning of historical comparison, in 2002, reported the Brazilian Institute of Geography and Statistics (IBGE).

The agency said in a statement that in July this year, unemployment remained mostly stable when compared to the previous month, that had an unemployed population that reached 7%.

The unemployment rate fell 1.1 percentage points compared with July 2009, when unemployment stood at 8.0% of the workforce.

The total unemployed population was 1.6 million people in the reference month, a figure that implies a decrease of 11.3% compared to July last year.

Meanwhile, the employed population stood at 22 million, a figure that does not imply a change from the previous month and shows an increase of 3.2% compared to the previous year.

The number of employees in the formal sector in the private industry also remained stable in July compared to June (10.2 million) and grew by 5.9% over the same period of 2009.

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