Brazil’s Jobless Rate Drops for Fourth Month on Resilient Economy
- Jobless rate at 7.9% in three months through July; est. 7.9%
- Roughly 8.5 million Brazilians were unemployed: stats agency
Contractors during construction in Sao Paulo, Brazil.
Photographer: Victor Moriyama/BloombergThis article is for subscribers only.
Brazil’s unemployment rate ticked down for a fourth straight month in July, underscoring the resilience of Latin America’s biggest economy in the face of headwinds including double-digit borrowing costs.
Official data released Thursday showed the national unemployment rate declined to 7.9% from a month earlier, matching the median estimate from analysts surveyed by Bloomberg. Some 8.5 million people were out of work, the national statistics agency said.