Since Brazil had the 6th rank globally (months ago); world’s eyes stay open on this huge country to what to do next. The crises in Europe and US and rest of the world is hitting, while Brazil is generating more than 2 millions of jobs, as President Dilma Rousseff said once.Short, full of details and very interesting to read.
From Mark Weisbrot
Last week Brazil hit another record low unemployment rate, at 4.7 percent. Even if we seasonally adjust the data, it is still a record low at 5.5 percent of the labor force. This is a positive achievement and partly reflects the fact that Brazil’s economy has performed much better under Lula and Dilma than during the Cardoso years. Per capita GDP grew only about 3.2 percent for the eight years of the Cardoso administration, whereas it has grown about 28 percent since the Workers’ Party took office in 2003.
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