Brazil’s average unemployment rate in 2016 rose to 11.5 percent from 8.5 percent in 2015, the Brazilian Census Bureau (IBGE) said Tuesday. Unemployment worsened throughout the course of the year, ending 2016 at 12 percent, or 12.3 million people without jobs. The 2016 average was the highest under the current methodology, adopted by the IBGE in 2012. Unemployment rose last year as Brazil’s two-year recession entered its deepest phase. Economic hardship was worsened by persistent inflation and high interest rates. For 2017, economists expect a slow but steady economic revival based on tame inflation, lower interest rates and increased business investment.
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