Economics
Brazil’s Jobless Rate Rises Less Than Expected
- Jobless rate rose to 11.2% in the three months ending in Jan.
- Labor market back to pre-pandemic levels, but economy fizzling
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Brazil’s unemployment rate rose less than expected, as businesses dismissed seasonal workers brought on to attend a surge of shoppers around the Christmas holidays.
The joblessness rate increased to 11.2% in the three months ending in January from 11.1% previously, the national statistics institute reported on Friday. The figure was below the 11.3% median estimate from analysts in a Bloomberg survey.