Brazil May Unemployment Higher Than Expected as Recession Looms
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Brazil’s unemployment rate rose in May more than analysts forecast as higher rates and tighter fiscal policy stifle activity in Latin America’s biggest economy.
The jobless rate increased to 6.7 percent from 6.4 percent a month earlier, the national statistics institute said Thursday. That was higher than the 6.6 percent median estimate from 34 economists surveyed by Bloomberg and the highest in nearly five years.