Unemployment in Brazil at Record Low

Unemployment in Brazil at Record Low

The Brazilian labour market continues to be buoyant with the unemployment rate reaching a record low of 4.3% at the end of 2013. This downward trend continued into January 2014 where unemployment was lower than economist estimates, as surveyed by Bloomberg.


The unemployment rate in Brazil fell from 4.6% in November to the all time low of 4.3% in December 2013, according to the Brazilian Institute of Geography and Statistics, marking the lowest employment rate since it was first recorded in 2002. The job market has continued to improve helping raise living standards for Brazilians across the board over the past decade.


Brazil’s President Dilma Rousseff took to Twitter to explain how unemployment is one of the trademarks of her administration:


“We constructed our stability -- controlled inflation, a fiscal surplus and high reserves -- while increasing income and employment.”


The result of Brazilians earning more money is a boost in new homeowners in the economy looking to own rather than rent a home. The housing market in Brazil is booming and during the last 12 months prices rose by 7%, according to The Bank of International Settlements.


There is a clear opportunity to earn from residential real estate and tourist resorts in Brazil. Northeast Brazil is a particular hot spot for both tourists, domestic visitors and buyers due to the ideal climate, affordability of property and the investment potential of property in that area.


Source: Bloomberg