Brazil's Unemployment Rate Unexpectedly Drops in November
- Joblessness has historically dropped in advance of holidays
- Quickening inflation continued to erode wages last month
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Brazil’s unemployment rate dropped in November, surprising analysts who forecast joblessness would continue to climb amid the deepest recession in 25 years.
The jobless rate fell to 7.5 percent last month from 7.9 percent in October, the national statistics institute said Thursday. That compares with a median estimate of 8 percent in a Bloomberg survey of 37 analysts.