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Your email address will not be published.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

Despite Evidence Brazil’s Speaker Resigns Protesting Innocence

Brazilian Deputy Severino Cavalcanti, who was Brazil’s Speaker of the House (president of the ...

Rio: Army on the Streets to Secure Brazil’s Mercosur Summit

Former Brazilian president José Sarney (1985/1990) admitted that Mercosur was undergoing a "crisis situation" ...

Inequality not Poverty Begets Crime in Brazil

One of the factors in the equation of social inequality in Brazil is the ...

Getting to the Bottom of Brazil’s Gerald Thomas

{mosimage}Arnold Schoenberg’s twelve-tone opera Moses und Aron, unjustly portrayed in the classical-music media as ...

Brazil’s Conspiracy of Silence Breeds Slavery, Poverty and Torture

There is no such thing as silenced truth. When covered over by silence, the ...

Uruguay Has 10,000 Tons of Milk Waiting a License to Enter Brazil

Given Brazil's long delay in extending import licenses for Uruguayan dairy produce Uruguay is ...

Sí£o Tomí© and Prí­ncipe Adopts Brazil’s School Grant Program

After four years spent organizing the School Grant Program in poor communities of the ...

Brazil’s Shoe Industry Goes in Fast-Forward Mode to Face the Chinese

Over 77 million pairs of shoes made each year, 20,000 workers, more than 1,000 ...

Brazilian Plastic Industry Exports Fall 15%

The plastics industry in Brazil earned US$ 1.1 billion from exports of processed plastic ...

Brazilian Gol Gets Nod as Aviation Week’s Best Performing Airline in the World

Brazilian Airline Gol was rated the world’s best performing airline in 2005 by Aviation ...