Jobs
Brazil Unemployment Falls Again in Sign of Economic Strength
- Rate at 8.3% in three months through May; in line with est.
- Some 8.9 million Brazilians were unemployed as of May
A worker creates fabric cut-outs for stuffed animals at a manufacturing facility in Sao Paulo, Brazil.
Photographer: Rafael Vilela/BloombergThis article is for subscribers only.
Brazil’s unemployment rate fell as expected in May, a sign of the prevailing strength of Latin America’s largest economy even as it faces double-digit borrowing costs.
Official data released Friday showed the national unemployment rate dropped to 8.3% from a month earlier, in line with the median estimate from analysts surveyed by Bloomberg. Results are based on a moving 3-month period of data collection. Some 8.9 million people were out of work, the national statistics agency said.