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Unemployment in Sao Paulo hits 12-year low |
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13:45, June 29, 2007 |
Unemployment in Sao Paulo'smetropolitan area fell to 15.5 percent in May, the lowest rate since 1995, statistics released on Wednesday showed.
The study, conducted by the Inter Union Department of Statistics and Socio-economic Studies (DIEESE) and the state government's SEADE Foundation, showed that unemployment rate in the region -- the most industrialized in Brazil -- dropped to 15.5percent in May from 16.3 percent in April.
The country registered an overall unemployment rate of 16.4 percent last month, a slight reduction from 16.9 percent in April.The DIEESE and SEADE said 88,000 new jobs were created and 10,000 workers lost their jobs in May.
The two institutes, which carried out the study in six Brazilian metropolitan regions, said the figures suggested an inversion of the rising trend in joblessness in the country.
The DIEESE and SEADE also said the average income of workers rose slightly in the March-April period.
Source: Xinhua</font>
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