BRASILIA, Sept 29 Brazil's national unemployment
rate rose to 11.8 percent in the three months through August
, statistics agency IBGE said on Friday, slightly
above expectations in a Reuters poll.
The median forecast of 13 economists surveyed by Reuters
projected the unemployment rate at 11.7 percent, up from 11.6
percent in the three months through July. Brazil's jobless rate
has risen sharply from 6.5 percent at the end of 2014 as the
country entered its worst recession in at least eight decades.
Nearly 2 million Brazilians have lost their jobs over the
last 12 months, according to Labor Ministry data, taking the
total unemployed population to an estimated 12 million.
Wages discounted for inflation fell 1.7 percent from the
same period in 2015 to an average of 2,011 reais ($618.92).
Economists expect Brazil's unemployment rate to keep rising
in coming months, limiting an expected economic recovery after
two years of harsh recession. However, high unemployment has
helped the central bank reduce inflation too, which may pave the
way for interest rate cuts starting in October.
($1 = 3.2492 Brazilian reais)
(Reporting by Silvio Cascione; Editing by Bernadette Baum)