Brazilian Metro Unemployment Is Lowest On Record in November

The Brazilian unemployment rate in November calculated by the Brazilian Institute of Geography and Statistics (IBGE) in the six main metropolitan regions of the country was 7.4% in November, the lowest on record since the series began in 2002. This is a drop from 7.5% in October.

In November 2008, the rate was 7.6%.

According to Cimar Azeredo, the IBGE manager that evaluates the monthly survey, "the trend in increasing occupancy and falling unemployment."

Chart of unemployment rates:



EWZ and BRF (small cap) are the ETFs that follow Brazilian stocks:






BZF tracks the Brazilian a real (currency):




Here is the performance of all Brazilian ADRS this year (last column), from our Tracking Live site. Gafisa, a builder continues to lead with an ROI of +234%, followed very closely by GOL (airline) and Braskem (chemicals), two companies we have discussed in this blog in the past):


(please click to enlarge)