Brazil unemployment falls to lowest level in eight years

Unemployment in Brazil fell slightly in August to 6.7%, the lowest level since March 2002, said Thursday the official statistical agency.

August Unemployment remained virtually unchanged from the previous month, when it registered 6.9%, according to the Brazilian Institute of Geography and Statistics (IBGE).

Still, this is the lowest unemployment rate in the last eight years, reflecting the growth of the economy and the recovery of the industry after the financial crisis of 2008 and 2009 overall.

Unemployment in Brazil has shown a declining trend since August of 2009 reached its peak with 8.1% in full global crisis.

The IBGE measures unemployment based on the employment situation in six major metropolitan areas.