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30 Jan 2012

Record low unemployment in 2011

Unemployment in December was 4.7 %

Unemployment in December was, for the second consecutive month, at a new record low in December. The formal  unemployment was only 4.7% in the month. It was a 0.5 %-points lower than the former  record from November 2011.

The development in unemployment is seen at the graph, which also shows that unemployment is traditionally lowest in the last months of the year due to seasonal work.

Arbejdsl _shed _dec _2011-1

Throughout 2011 the unemployment rate was only 6%, also a new record low and 0.8  %-points lower than in 2010.

In 2011, a total of 1.94 million new jobs were created. That was 24% less  jobs created compared to 2010. The declining job growth is easing the hot job market.

It is believed that more than 50of Brazil's workforce is employed in informal jobs that are not included in unemployment survey. Thus, a low formal unemployment of 4.7can not be directly compared with figures from other western countries.