Brazil’s National Jobless Rate Rises to 9 pct in October

Reuters, 01/15/2016

Brazil’s national unemployment rate rose to 9.0 percent in the three months through October, from 8.6 percent in the previous three months, statistics agency IBGE said on Friday.

The increase was in line with the median expectation of 11 economists in a Reuters poll.

About 1.5 million people have lost their jobs over the past year as Brazil fell into its most intense and probably longest recession in more than a century. Unemployment is expected to rise to 11 percent by year-end, according to a Reuters poll earlier this week.

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