CORRECTED-UPDATE 1-Brazil's jobless rate drops to 12.6% in quarter through September

·1 min read

(Corrects first paragraph to reflect drop was larger than expected)

SAO PAULO, Nov 30 (Reuters) - Brazil's jobless rate fell to 12.6% in the three months through September, statistics agency IBGE said on Tuesday, a larger fall than the market had expected.

The median forecast in a Reuters poll projected an unemployment rate of 12.7%.

According to the latest data, the number of jobless people fell by 9.3% compared with the three-month period ending in June, to 13.5 million people. At the same time, the number of people with jobs grew by 4% to 93 million, IBGE said.

Despite the slight improvement, IBGE still estimates a high rate of informality in the Brazilian job market. In the three months ending in September, there were some 38 million informal workers in Brazil, the latest data showed.

(Reporting by Ana Mano)

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