Brazil’s unemployment rate fell in a sign of the strength of Latin America’s largest economy.
Official data showed that the unemployment rate in Brazil fell to 8.3% from the previous month, in line with the average estimate from analysts.
The results are based on a moving 3-month data collection period.
Brazil’s National Statistics Agency said about 8.9 million people were out of work.
Brazil’s labor market is tight even though it is pinched by falling demand and a record interest rate of 13.75%, the highest in six years.
President Luiz Inacio Lula da Silva has called on the central bank to cut interest rates to further boost economic growth, but policymakers remain concerned about price pressures.
The Brazilian central bank said it may start monetary easing in August this year.
