Brazil's jobless rate falls to record low in quarter through October
SAO PAULO, Nov 28 (Reuters) - Brazil's jobless rate hit an all-time low in the three months through October, data from statistics agency IBGE showed on Friday, coming in below market expectations despite high interest rates.
Unemployment in Latin America's largest economy stood at 5.4% in the August-October period, IBGE said.
That was down from 5.6% in the previous quarter.
The median forecast in a Reuters poll projected an unemployment rate of 5.5%.
The figure marks the lowest level since IBGE began the series in 2012.
Brazil's labor market has shown resilience this year, even with the country's benchmark interest rate currently at a near 20-year high of 15%.
The indicator has been welcomed by the government but cited by the central bank as a factor contributing to inflationary pressures.
The number of jobless people in Brazil was 5.91 million in the period, down 3.4% quarter-on-quarter.
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