Jobs
Brazil’s Jobless Rate Ticks Up as Central Bank Readies Rate Cut
- Jobless rate at 7.9% in three months through March.; est. 8.1%
- Bank will cut rates by half point in May, next moves unclear
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Brazil’s jobless rate ticked up less than expected last month, likely adding to central bankers’ concerns that the labor market is running too hot.
Official data released Tuesday showed the unemployment rate rose to 7.9% in March from a month earlier, below the 8.1% median estimate from analysts surveyed by Bloomberg. Some 8.6 million people were jobless in the period.