May 2011, Brazil’s unemployment rate falls to the lowest rate ever, whilst the rest of the developed world struggles on. The jobless rate fell to 6.4 percent in May, the lowest since statistics began in 2002.
As Latin America’s biggest economy continues to hire more and more workers to meet growing domestic demand, average real wages also rose – by 4 percent year-on-year to 1,567 Reais (US$988) per month.
Record low unemployment coupled with a “substantial” increase in wages are an “important risk” for inflation and a driver of economic growth, central bank policy makes stated in their June board meeting.
For the full story on economic growth and control, visit Bloomberg.
Tags: Brazil, Brazil economic growth, Economy, unemployment
