Economics
Brazil Posts Better-Than-Expected Unemployment Despite Layoffs
- Jobless rate held at 11.2% in the three months ending in Feb.
- Workers, businesses enduring high inflation and tight credit
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Brazil’s jobless rate held steady, surprising analysts who had expected an increase amid dismissals of seasonal workers hired to attend crowds during the holiday season.
The joblessness rate remained unchanged at 11.2% in the three months ending in February, the national statistics institute reported on Thursday. The figure was below the 11.4% median estimate from analysts in a Bloomberg survey.