Brazil's unemployment rate dipped to 12.9 percent in April, ending a three-month streak of gradual increases, official figures showed Tuesday. The decrease in joblessness from the previous month's 13.1 percent rate was bigger than expected by markets. Valor financial daily forecasted a 13 percent rate. The official IBGE statistics office said that 13.4 million people were out of work between February and April, compared to 13.7 million people in the previous three-month period.
A year ago, the April rate was 13.6 percent, with 14 million jobless. Tuesday's figures were rare positive news for center-right President Michel Temer. Temer says his austerity policies are putting Brazil's floundering economy back on track, but has become the country's most unpopular president on record. He faces renewed pressure with a massive truckers' strike entering its ninth day, bringing much of the economy to a standstill. Last week, Brazil lowered its expected growth for 2018 to 2.97 percent. The economy grew one percent in 2017 after two years of recession.
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