Brazil Unemployment Falls, Likely Complicating Further Interest Rate Cuts
- Jobless rate at 7.5% in three months through April.; est. 7.7%
- Analysts see a quarter-point interest rate cut next month
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Brazil’s jobless rate fell more than expected, reversing a recent up tick and likely stoking unease among policymakers that a tight labor market could complicate further monetary easing.
Official data released Wednesday showed the unemployment rate fell to 7.5% in April from a month earlier, below the 7.7% median estimate from analysts surveyed by Bloomberg. Some 8.2 million people were jobless in the period.