Jobs
Brazil’s Unemployment Climbs, Adding to Lula’s Economic Woes
- Jobless rate at 8.6% in three months through Feb.; est. 8.7%
- Some 9.2 million people are unemployed as of February
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Brazil’s jobless rate climbed for a second consecutive month this year, evidencing that Latin America’s largest economy is losing momentum and complicating President Luiz Inacio Lula da Silva’s ambitious growth agenda.
Official data released Friday showed the national unemployment rate increased to 8.6% in the three months through February, slightly below the 8.7% median estimate from analysts surveyed by Bloomberg. Some 9.2 million people are out of work, the national statistics agency said.