Brazil’s Unemployment Rate Falls More Than Expected To 11-Month Low

 @AmruthaGayathri
on December 19 2013 7:04 AM
Brazil workers
Employees work at the assembly line of Positivo Computers, Brazil's largest computer producer, in Curitiba September 25, 2009. Reuters

Brazil’s unemployment rate in November fell more than expected, amid weak growth and rising inflation, which may prompt the central bank to further raise interest rates.

The unemployment rate dropped to 4.6 percent, lower than a consensus estimate of 4.9 percent and October's rate of 5.2 percent, data released on Thursday by the Brazilian Institute of Geography and Statistics said.

The country's unemployed population, which accounted for 1.1 million people, fell by 10.9 percent in November on a monthly basis, while in comparison to November 2012, the number of unemployed people held steady.

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