Brazil Job Creation Crushes Estimates Ahead of Likely Rate Cut

Brazil created far more formal jobs than expected in March, demonstrating the economy’s resilience despite double-digit interest rates.

The economy created 228,208 formal jobs, the Labor Ministry reported Wednesday, dwarfing estimates in a Bloomberg survey that had a 148,576 median forecast. The data marked a sharp increase from the roughly 80,000 positions added in the same month a year prior.