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Brazil Unemployment Falls More Than Expected on Slow Recovery

  • Joblessness dropped to 12.6% in three months ending in Sept.
  • Double-digit inflation, higher rates have hindered rebound

Brazil’s unemployment fell more than expected, a bright spot in the recovery of Latin America’s largest economy, which has been hindered by double-digit inflation and higher interest rates. 

Joblessness slid to 12.6% in the three months ending in September from 13.2% previously, the national statistics institute reported on Tuesday. The figure was slightly below the 12.7% median estimate from analysts in a Bloomberg survey.