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Brazilian unemployment rate falls to 12.4 pct in Q2

Official data indicate that the unemployment rate in Brazil fell to 12.4 percent in the second quarter from 13.1 percent in the first, Reuters reports.

The news agency, citing figures compiled by the Brazilian statistics agency, says the fall was due to greater off-the-books employment, which means the employees get no paid holidays, automatic pay increases or other benefits.

Brazilian wages, adjusted for inflation, remained flat in the second quarter, Reuters says.

In a separate report, the Chinese government-run news agency, Xinhua, says data compiled by the central bank indicate that the primary public-sector deficit in Brazil fell to 14.42 billion reais (U$3.88 billion) in first half of this year, its lowest for three years.