Brazil's Unemployment Rate Declines in Fourth Quarter

Joblessness in Brazil declined in the fourth quarter amid a seasonal increase in hiring but remained nearly double the level of four years ago, reflecting a sluggish recovery from the worst recession in decades.

The nationwide unemployment rate fell to 11.8% in the September to December period from 12.4% in the third quarter, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. Joblessness was also slightly lower than in the fourth quarter of 2016, when the rate stood at 12%.

Unemployment remains elevated by recent historical standards, however. In the fourth quarter of 2013 the rate was 6.2%.

Write to Paul Kiernan at paul.kiernan@wsj.com

(END) Dow Jones Newswires

January 31, 2018 06:32 ET (11:32 GMT)