Labor & Economic News Blog

Thursday, August 24, 2006

Foreign Briefs: Jobless Rate in Brazil at 15-Month High

Business" href="http://www.nytimes.com/2006/08/25/business/25fobriefs-002.html?ex=1314158400&en=26cae2d8709eb82d&ei=5088&partner=rssnyt&emc=rss" target=_blank>Foreign Briefs: Jobless Rate in Brazil at 15-Month High
By BLOOMBERG NEWS
Brazil’s unemployment rate jumped to a 15-month high in July as an appreciation in the currency eroded profits on exports and led companies including Volkswagen to cut payrolls. The jobless rate in Brazil’s six largest metropolitan areas rose to 10.7 percent, from 10.4 percent in June and 9.4 percent in July 2005, the government said. Economists had predicted a decline in the rate to 10.2 percent, according to the median of 14 forecasts in a Bloomberg survey.

 



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