Indicators
Brazil Jobless Rate Hits Historic Low in Latest Win for Lula
- Jobless rate at 6.2% in three months through Oct.; est. 6.2%
- Unemployment at lowest level in series that started in 2012
Workers during a tangerine and orange harvest, Minas Gerais state, Brazil.
Photographer: Lucas Landau/BloombergThis article is for subscribers only.
Brazil’s jobless rate fell to the lowest level on record, representing a political win for a President Luiz Inacio Lula da Silva while adding to the concern of policymakers who fear the economy is running too hot.
Official data released Friday showed the unemployment rate fell to 6.2% in October from a month earlier, matching the median estimate of analysts surveyed by Bloomberg. It is the lowest level in the data series going back to 2012, and showed some 6.8 million people were out of work.