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Record Low Unemployment Rate in Brazil for 2010

Thursday, January 27th 2011 - 21:01 UTC
Full article 9 comments

Brazil’s booming economy registered record low unemployment in 2010 as a strengthening economy created jobs. The rate fell to a record low in 2010, as the country’s economy records the fastest growth since 1985.

The unemployment rate in Latin America’s biggest economy fell to 6.7 percent last year, down from 8.1 percent in 2009, the Brazilian Institute of Geography and Statistics (IBGE) said on Thursday.

In 2003, jobless rate in Brazil stood at 12.4 percent, the highest recorded in the last decade.
Also, the unemployment rate fell to 5.3 percent in December 2010 month-on-month, the lowest level since March 2002.

Overall, the number of unemployed people in Brazil dropped to 1.6 million in 2010, down 15 percent compared with 2009.

The country’s labour minister Carlos Lupi has said that Brazil is estimated to create 3 million jobs in 2011.

Boosted by a strong domestic demand, Brazil’s economy is estimated to record a growth of 7.7 percent, the highest in 25 years, according to an analysis from Latin Business Chronicle.

2010 also saw the highest increase in monthly incomes of Brazilians at 1490.61 Brazilian real ($893.4), up 19 percent compared with levels in 2003. Per capita income was up 5.5 percent in 2010 compared with 2009.

However, inflation continues to be a concern for the economy with rise in food prices. It is expected to accelerate to 6.5 percent in 2011, recording the fastest increase since 2004, Bloomberg reported quoting Paulo Leme, the chief Latin America economist at Goldman Sachs.

 

 

Categories: Economy, Politics, Brazil.

Top Comments

Disclaimer & comment rules
  • briton

    sometimes being to quick to reach the winning line, does not always work ,

    Jan 27th, 2011 - 09:26 pm 0
  • I

    what would bring a british here if not jealusy, rather then being happy for Brazilians they come here to pest people, then they stand back and cry wolf when you descrive to them the kind of parasitic life they live. I rest my case, I am happy for Brazilians they deserve it.

    Jan 27th, 2011 - 09:52 pm 0
  • Jefferson Michaelis

    Another interesting point to mention, is the fact that Brazil now lends money to the International Monetary Fund. What a change! Brazil became a creditor nation, not a debtor nation as used to be. There are a lot to be done in Brazil yet, however I'm glad to see such positive changes.

    Jan 28th, 2011 - 08:37 pm 0
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