RIO DE JANEIRO, BRAZIL - The labor market absorbed over 3 million formal and informal workers in the quarter ended in October, thereby lowering the unemployment rate to 12.1% from 13.7% in the quarter through July.
The average wage for employed workers fell 4.6% in just one quarter, down R$117 (US$21) in comparison to the figure earned in the quarter ended in July. Compared to the quarter ended in October last year, the average wage shrank 11.1% (R$307 less), to a historical low of R$2,449 per month.
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