World Economy

Brazil Jobless Rate Dips

Brazil Jobless Rate DipsBrazil Jobless Rate Dips

Brazil added a net 34,253 payroll jobs in May, government data showed, the second straight month of job creation as the economy slowly emerges from its deepest-ever recession. Economists expected the economy to have added 20,000 jobs last month, according to the median forecast in a Reuters poll. Brazil’s economy is forecast to grow 0.4% in 2017 after contracting more than 3% in each of the past two years. The jobless rate in April dipped to 13.6% from an all-time high of 13.7% in the period between January and March, statistics agency IBGE said, in contrast to market expectations in a Reuters poll for an increase to 13.9%.

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