Analysts: Brazil unemployment could hit 10 percent

Global Business

Unemployment in Brazil dropped slightly in November, offering a brief respite to a steep rise seen over the past year.

CCTV’s Paulo Cabral reports from Sao Paulo.

Analysts: Brazil unemployment could hit 10 percent

Unemployment in Brazil dropped slightly in November, offering a brief respite to a steep rise seen over the past year.

Analysts are not hopeful the labor market will significantly improve any time soon and the lines to collect unemployment benefits are growing.

The government’s austerity program has tightened rules on who qualifies to receive unemployment benefits. To cut expenses, the federal government now requires workers to put in at least one full year at a job before benefits will be paid. Previously, six months were enough.

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