• Categories
  • Archives

Number of Brazilians Unemployed Jumps to 9% or 2.1 Million People

Brazil's unemployment bureau Unemployment in Brazil remained steady at 9% with a growing tendency in March, having reached the highest since September 2007, when it was also 9%, reported the Brazilian Statistics and Geography Institute, IBGE.

This is up from 8.5% in February and a jump from a year ago, 8.6%. In practical terms this means that 141.000 people lost their jobs last month, which means the total number of people seeking jobs has now reached 2.1 million.

Brazil’s jobless total has been increasing despite Brazil's robust financial institutions along with aggressive government stimulus measures including tax and interest rate cuts.

The Brazilian economy shrank 3.6% in the last quarter of 2008, and economists are forecasting 2009 will end with 0.5% contraction.

Analysts expect unemployment to increase in the coming months because that's the way it goes every year at this time. This is a seasonal phenomenon. Unemployment in Brazil grows in the first six months of the year and then starts to go down again.

Economists are wondering, however, how much more the lack of jobs will grow. Those most pessimistic are betting unemployment will soon reach 11% and. up.

Mercopress/Bzz

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil’s Social Movements Coalition Comes to Lula’s Rescue

After a meeting with Brazilian President Luiz Inácio Lula da Silva, a coordinator of ...

Brazil’s Gol Next Flight: Uruguay

Brazilian no-frills airline Gol will be flying to Uruguay and Paraguay beginning in the ...

Brazil Movies Are Having a Rebirth. You Can Check at a Theater Near You

Film production in Brazil has jumped to over 70 feature films a year and ...

Congressman Names Names in Brazilian Graft Scandal, But Lula’s Party Denies All

In testimony yesterday before the Ethics Council of the Brazilian Chamber of Deputies, the ...

Foot and Mouth Hits Argentina Cattle and Brazil Feels the Pain

The detection of foot-and-mouth in Argentina is bad news for major beef producers throughout ...

From the 1.4 Million Cars Brazil Made This Year, 366,000 Were Exported

The Brazilian market for vehicles grew 5.8% in the month of June when compared ...

Brazil Fears no Blackouts or Brownouts At Least Up to 2010

Brazil does not face the risk of running short of electric power, either for ...

With Nepotism Banned in Brazil by Supreme Scores Lose Jobs in Courts

By a vote of 9 to 1, the Brazilian Supreme Court (Supremo Tribunal Federal) ...

Porto Murtinho, in the Brazilian Pantanal

A Crazy Lady Tries to Make Sense of Life on Brazil’s Frontier

To the uninitiated, Porto Murtinho may seem like the middle of nowhere – or ...