SAO PAULO (Reuters) – Brazil’s jobless rate rose in the quarter through February, official data showed on Friday, matching economists’ expectations in a Reuters poll.
Unemployment in Latin America’s largest economy hit 6.8% in the three months through February, statistics agency IBGE said, up from the 6.1% registered in the previous rolling quarter which ended in November.
Brazil’s jobless rate in recent quarters had fallen to historic lows, cheered by the government but also cited by the central bank as a factor in its interest rate hikes amid increased consumer prices.
Last week, the central bank raised interest rates by 100 basis points to 14.25% – a high not seen since 2016 – and signaled a smaller increase to come in May.
In recent weeks, a string of economic data have showed signs of a slowdown in the Brazilian economy.
(Reporting by Isabel Teles and Camila Moreira; Writing by Andre Romani; Editing by Kylie Madry)
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