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Brazilian unemployment dips to 12.9 percent in April

The decrease in joblessness from the previous month’s 13.1% rate was bigger than expected by markets

Rio De Janeiro: Brazil’s unemployment rate dipped to 12.9 per cent in April, ending a three-month streak of gradual increases, official figures showed on Tuesday.

The decrease in joblessness from the previous month’s 13.1 per cent rate was bigger than expected by markets. Valor financial daily forecasted a 13 per cent rate.

The official IBGE statistics office said that 13.4 million people were out of work between February and April, compared to 13.7 million people in the previous three-month period.

A year ago, the April rate was 13.6 per cent, with 14 million jobless.
Tuesday’s figures were rare positive news for center-right President Michel Temer.

Temer says his austerity policies are putting Brazil’s floundering economy back on track, but has become the country’s most unpopular president on record.

He faces renewed pressure with a massive truckers’ strike entering its ninth day, bringing much of the economy to a standstill.

Last week, Brazil lowered its expected growth for 2018 to 2.97 per cent. The economy grew 1 per cent in 2017 after two years of recession. 

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