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Brazil 2013-job-creation was the poorest in a decade; unemployment at record low

Thursday, January 23rd 2014 - 10:38 UTC
Full article 8 comments
Labor minister Dias pledged a 1.4 million jobs net creation this year Labor minister Dias pledged a 1.4 million jobs net creation this year

Brazil's economy added the fewest net payroll jobs in a decade in 2013, a sign that three consecutive years of weak economic growth is weighing down the economy, according to the latest government data. However unemployment remains at record lows.

 Excluding seasonal adjustments, farms, industrial factories and retail firms created a net 730,687 payroll jobs in 2013, the smallest number since 2003, the Labor ministry said.
Taking into account the impact of seasonal adjustments, the economy created a net 1.17 million jobs - also the worst in a decade.

Speaking at a news conference in Brasilia, Labor Minister Manoel Dias forecast a recovery in seasonally adjusted net job creation to between 1.4 million and 1.5 million payroll positions this year. Part of the recovery in job creation, Dias noted, will stem from a surge in investment projects that were announced last year but whose construction will begin in 2014.

The pace of job creation in Brazil started to lose momentum in 2011, when President Dilma Rousseff took office on a platform of slashing borrowing costs and doubling economic expansion rates. With inflation stubbornly high and consumer confidence waning, economists have been cutting their forecasts for economic growth in 2014 over the past few months to around 2%.

However the slowdown in job creation, Brazil's unemployment rate remains around record lows as more Brazilians leave the labor force temporarily to dedicate time to education and training. In December, the economy shed a net 449,444 jobs , in line with market expectations, the ministry said.

Categories: Economy, Brazil.

Top Comments

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  • ChrisR

    The usual mixed messages from the Cinderella of SA!

    I don't think she will ever go to the ball if this abysmal performance goes on much longer.

    It's the usual problem for the commies: give money away to the “poor” and the lazy sods won't work; tax “capitalists” and they close the business, throwing people out of a job and reducing the tax take.

    What to do? We all know what needs doing but the commies hate capitalism, stupid, stupid bastards.

    Jan 23rd, 2014 - 03:40 pm 0
  • Tik Tok

    Absolutely, and if they want to get back on track they'll have to take a good dose of medicine. Things are crumbling presently.

    Jan 23rd, 2014 - 06:24 pm 0
  • Jack Bauer

    UNemplyment at a record low ??? If they were to count - and am pretty damned sure they don't - and add those who have given up looking for a job, in the unemployed figure, am quite sure Unemplyment would be at a record high.....It's just like Obummer (in the US), don't count the dozens of millions who aren't looking for a job any longer, because they just can't find one....and Brazil's PT government is a master at publishing lies...on unemployment, inflation, crime, soccer stadiums will be ready by June 12...you name it...

    Jan 23rd, 2014 - 06:34 pm 0
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