Tuesday, 19 April 2011

Brazil: March unemployment rate rises by 0.1 per cent

Brazil's unemployment has risen for the third consecutive month in March after seven months of steady decline. Irrespective of the rise, this month's unemployment rate of 6.5 per cent is the lowest in March since 2002.

According to the Brazilian Census Bureau, unemployment in the country rose by 0.1 per cent in March from the 6.4 rate recorded in February. Estimates of unemployed remain stable at 1.5 million, as does the number of workers with contracts estimated at 10.7 million, which is higher than February's figure of 7.4 per cent.

The unemployment rate had been expected to climb to 6.7 per cent; still lower than that in March 2010 of 7.6 per cent. The relatively low rate indicates that the Brazilian Central Bank still faces an uphill fight against inflation.

Sources: Reuters, Wall Street Journal, RTT News

For more news and expert analysis about Brazil, please see Brazil Focus.

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