Brazil Unemployment Fell More Than Expected in Boost to Recovery
(Bloomberg) -- Brazil’s unemployment fell more than expected in the three months ending in August, as the labor market gradually mends in Latin America’s largest economy.
The jobless rate decreased to 13.2% from 13.7% previously, the national statistics institute reported on Wednesday. The figure was lower than the 13.4% median estimate from analysts in a Bloomberg survey.
The labor market has slowly firmed in recent months as authorities unwind the last remaining coronavirus restrictions on movement and commerce. The reopening of the economy, however, has stoked inflation over 10%, its highest level in five years. Meanwhile, President Jair Bolsonaro is looking to expand cash transfers to the poor ahead of elections next year.
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