Unemployment declines to second lowest level in series

Brazil’s unemployment rate declined in July to 6.9% from 7.0% in June, reaching its second lowest level since the current methodology was introduced in 2001, the Brazilian Census Bureau (IBGE) said this week.

Unemployment was 8.0% in July of 2009.

Brazil hit its lowest unemployment level under the current methodology in December of last year, when Christmas season retail hiring brought the rate down to 6.8%.

Unemployment is declining on the heels of a robust economic recovery, with Brazilian gross domestic product likely to expand by at least 6% this year.