Brazil’s Unemployment Rate Unexpectedly Fell to 6% in April

Brazil’s unemployment rate unexpectedly declined in April, adding to evidence that the labor market remains tight and may limit the room for more interest rate cuts.

Joblessness fell to 6 percent in April from 6.2 percent the month before, the national statistics agency said today in a report distributed in Rio de Janeiro. The number was the lowest ever for April and below the 6.2 percent median forecast in a Bloomberg survey of 38 analysts.