Brazil’s unemployment rate rose sharply

Paul Kiernan – The Wall Street Journal, 9/29/2015

Brazil’s national unemployment rate rose sharply in the May to July period and wages declined, as the economy likely continued to deteriorate.

Joblessness rose to 8.6% in May to July from 8% in the previous three-month period and 6.9% a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Tuesday. Average monthly wages fell to 1,881 Brazilian reais, the lowest level, adjusted for inflation, since the September to November period of 2014.

The data released Tuesday were from a new, nationwide unemployment survey, known as PNAD, that the IBGE is currently phasing in. The old survey, which will be phased out after this year, only collected data from six major metropolitan areas.

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