Off the wire
• 1st LD: China's manufacturing activity expands again, non-manufacturing PMI rebounds  • Spotlight: China' s RMB embarks on new journey towards global reserve status  • Roundup: Hurricane Matthew continues to gain strength, raises alarm in Jamaica  • "Long way to go" before mass space travel a reality, say astronauts  • Roundup: S.Korea's exports turn downward on auto strikes, Galaxy Note 7 recall  • Angelina Jolie, Brad Pitt may reach deal over custody of children  • UN chief deeply concerned over rising tensions between India, Pakistan  • S.Korea's exports fall 5.9 pct in September on auto strikes, Note 7 recall  • Brazil's Temer says not responsible for high jobless rate  • Spotlight: China-Cuba ties emblematic of Beijing's cooperation with LatAm, says Cuban expert  
You are here: 　 Home

Brazil's unemployment rate to fall next year

Xinhua, October 1, 2016 Adjust font size:

With a growing economy, Brazil's unemployment rate will inevitably start falling in 2017, Finance Minister Henrique Meirelles said on Friday.

Earlier in the day, the Brazilian Institute of Geography and Statistics (IBGE) announced that the unemployment rate was 11.8 percent in the quarter ending in August, a growth of 3.0 percentage points compared with the same period last year.

The figures have been the highest since 2012 when IBGE started calculating the unemployment rate quarterly rather than monthly.

Brazil is still in an economic recession, so it is "premature" to say that the country's economic recovery has begun, he said.

However, looking at the stabilizing economy, a process of recovery may start and be further consolidated next year, he added.

Meirelles defended the controversial constitutional amendment to cut public expenditures, which will be put to the vote in the Congress. Endi