Investment in Rio to rise as employment rate climbs?
Date added: 23rd July, 2010 at 10:18
(view all articles from July, 2010)
Categories: Rio
Investment in Rio may be boosted by news that the proportion of people in employment in Brazil has increased.
A report from the country's national statistics office Instituto Brasileiro de Geografia e Estatistica (IBGE) revealed that the rate of joblessness declined by 0.5 per cent in June compared with May, representing a 1.1 per cent year-on-year decrease.
This comes after director for Latin America at Moody's Economy.com Alfredo Coutino told the Wall Street Journal that the rise of salaries and employment in the nation was driving the emergence of a middle-class demographic, which would lead to consumerism, higher levels of demand and fuel investment.
With the number of people out of work in Brazil dropping 6.6 per cent since May 2010 and 11.8 per cent in the past 12 months, the IBGE report revealed that joblessness was at its lowest for June since the surveys began in March 2002.
The average real income for those in employment was also higher, seeing a month-on-month rise of 0.5 per cent and climbing 3.4 per cent over one year.
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