Economics
Brazil’s Unemployment Unexpectedly Drops in Boost for Economy
- Jobless rate fell to 11.1% in three months through March
- Unemployment tends to trend higher in first months of year
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Brazil’s unemployment rate unexpectedly fell despite a complicated macroeconomic outlook including slow growth and high borrowing costs.
The joblessness rate slipped to 11.1% in the three months ending in March from 11.2% previously, the national statistics institute reported on Friday. The figure was below all estimates in a Bloomberg survey of analysts that had an 11.4% median forecast.