(Bloomberg) -- Brazil’s unemployment rate fell more than expected, representing a break for an economy that’s afflicted by high inflation and recession.
The joblessness rate slid to 11.6% in the three months ending in November from 12.1% previously, the national statistics institute reported on Friday. The figure was below the 11.7% median estimate from analysts in a Bloomberg survey.
The labor market is slowly recovering in the aftermath of the coronavirus outbreak, which forced thousands of businesses to shut their doors and kept millions of Brazilians unemployed. But many have taken work in the informal sector, while surging inflation and high interest rates undercut growth. Roughly 12.4 million people remain without work, according to the statistics agency.
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