Brazil’s unemployment rate fell to 8 percent in July, the lowest this year and down from 8.1 percent in June, the national statistics agency said today in a report distributed in Rio de Janeiro. The drop surprised 23 of 25 analysts surveyed by Bloomberg, who expected the jobless rate to rise.
“The recovery of the Brazilian economy is unmistakable,” said Alexandre de Azara, chief economist at BRZ Investimentos SA in Sao Paulo. “The unemployment number in July was much better than expected. If there were any bets of an additional cut in interest rates, after this report, they no longer exist.”
Also, our unemployment rate drop was because of more people getting jobs, not because more people became “bums” (as John and Adam would say), which is what happened last month in the US.
OK, I triggered you guys, let the flame war begin…
Congrats?
So, how was that accomplished? Did the new jobs come from the service sector – as happened here in the U.S. during Shrub I and Clinton? (The saying was “more people are working now than ever before, and they’re all working at McDonalds.”) Or was it more like the U.S. did during the Great Depression with the alphabet administrations – sort of a service job but with much, much better results in many areas, including self-esteem. That stuff helped pull us out of depression, similar to the one we’re pretty much in now (at 17% real unemployment).
How did the jobs in Brazil come about?
Does Brazil have a crushing trade imbalance with China and Opec? (Last I heard, Brazil runs itself on ethanol) Does Brazil borrow to fund trillion dollar overseas wars that have no strategic purpose?
I truly don’t know the answer to the first question, though I suspect not. The US has dug a huge hole for itself.
We will recover from this recession, but it will be a jobless recovery, and one which will leave crushing taxes for the productive to pay.
Is “Brazilian Correspondent” slang for attention whoring douche?
The signal to noise ratio of this blog has deteriorated seriously since you became a regular poster.
From the other side of the world we celebrate progress in Brazil and hope the US can find ways of spending it,s money for the benefit of it’s people and not the munitions industry. 🙂 Jim Australia PS the papers are saying our recession is over too. BTW we just sold a bit of stuff to China ..http://business.smh.com.au/business/australia-signs-biggest-ever-resource-deal-with-china-20090818-ep2f.html
Bullshit. Someone is doctoring the numbers and has the mass media’s cooperation. I don’t know who or how, I am not good at conspiracy theories, but I see those optimistic assessments on newspapers on TV and I don’t see anything getting better on the streets. I work in the service sector and my business has been terribly slow. My friends complain about the crisis and have been cutting costs. Many are selling all kinds of stuff to make ends meet. One of my friends has been told his monthly payment will be suspended/postponed for two or three weeks. Many businesses on the malls and streets seem less crowded. I see more expensive cars on the streets, though. Luxury stores also seem to be doing well. To me, it looks like there is a major wealth shift going on. The rich are getting richer and the middle class is getting poorer faster than usual.
Having said that, I agree that Guilherme has been exercising a rather poor choice of topics since his inception here, at DU.
I seriously doubt the employment figures in Brazil. Very, very few people have jobs in their “Carteira de Trabalho”.
I live in Mairiporã, north of São Paulo, and almost no one has a “real” job. Most people work odd jobs and hope to get steady work but people mostly work off the books for daily pay. Which is usually R$30 ~ R$50 a day. If they are lucky.
Unemployment is very, very high. So where do they get these numbers?
By way of definition, are the hordes in the favelas considered “employed” when they shine shoes, sell drugs, prostitute themselves, pick pockets, etc?
I think Guilherme’s topic selection is just fine. Its the all too often completely unsupportable comments he makes that is not helpful. We sheep need direction that doesn’t start by jumping off a cliff.
#12, Bobbo, the wise,
Its the all too often completely unsupportable comments he makes that is not helpful.
Agreed.
We sheep need direction that doesn’t start by jumping off a cliff.
I thought we got away from that last November.
Say what you want the evidence does suggest that the economy of Brazil is picking up while the US continues to loose jobs.
The government of both countries of course lie about the numbers. I think it is hilarious that so many people claim unemployment went down when we lost 250,000 or there about seasonally adjusted jobs.
#14–doill==if by hilarious you mean sad, then you have posted the first thing I agree with.
I’m only posting to comment that my favorite Tattoo is the Crying Heart with “Born to Loose” writ large. Always cracks me up.
No “recovery” for USA this time. We are going to experience a “reset” for the first time in our History. Repuglican tax/job/fair trade policies coming home to roost.
If there is any “concept” that is “internationalist” in design and aspiration and action=====it is capitalism. The most anti-American, anti=everything I can think of, its capitalism.
Feeding the monsters that consume them. Silly Hoomans.
Oh, whining yanks…
Guilherme, maybe you should talk about Britney Spears so burger eaters could entertained okay?
12. A spot on comment: “I think Guilherme’s topic selection is just fine. Its the all too often completely unsupportable comments he makes that is not helpful.”
Exactly. I wish you luck Guilherme, but you need to up your game and put some substance behind what you’re saying.
I’m thinking of starting a spelling troll…
Ow! My arm!
LOSE [LUZE} = not win, mislay
LOOSE [LUCE] = not tight
If you leave your shoes too loose, you could lose them.
THERE = not here
THEIR = belonging to them
THEY’RE = they are
They’re losing their shoes there.
Sorry. That’s been boiling up in me for DECADES!!! We now return to our regularly scheduled program.
It is completely dark. You are likely to be eaten by a grue.
#6 A big reason for Brazil recovery is it doesn’t have a Republican party throwing itself on the ground like human speed bumps to undermine Brazilian President Luiz Inacio Lula da Silva.
I also agree that unlike President Cheney and his bitch, Lula does not have to deal with a crushing war debt.
China too has positive GDP. Germany too saw improvement. What’s the key? The key is a strong a financially sound government and people.
Those are things the US is lacking. We are not attracting jobs, we are seeing jobs go to other countries. We are not stimulating permanent jobs but creating short term jobs that will not help down the road. Sure we are rebuilding roads and bridges which are certainly needed. But these jobs do not produce products, they do not stimulate building new factories and they create more federal debt! China on the other hand actually had a federal surplus of money and provided coupons to its citizens to buy durable goods. That in turn created a need in manufacturing thus creating jobs. But again, the key has been not to create more debt but rather try to keep jobs going that already exists.
America has been shedding jobs for years and now we are paying dearly for it. This is not going to end anytime soon.
#19, Bobbo, the overly critical,
Uncle Patso clearly stated that these were bugs up his butt. There are a few words I would like to add to his list.
Then = a point in time
Than = in contrast to.
After we consider all the evidence, THEN we can decide if Alphie is smarter THAN a bag of worms from a dead Nazi’s tomb.
where = a place
were = plural past tense of “to be”
we’re = contraction of “we are”.
WE”RE going to Woodstock WHERE there WERE some great bands.
(dang, it took me awhile to come with that sentence)
But before I appear too pretentious, I make many errors myself. Too many. In my opinion, the greatest gift to modern civilization has been the spell checker. I wish there were a god so I could ask him to bless the person who invented it.
Take a look at Brazil’s banking system
#26–Fusion==critical?===Moi? Hardly. I was being life affirming. Just because I’m usually critical, doesn’t mean I’m always critical. You imply two much.
90% of the airs are maid irrespective from actual knowledge. Just hard to proof read your own product and there is no edit function on this blog.
I actually get irrigated at those who feel compelled to post again to correct errors==as if we hear are two dum to make sense of the context.
But i rize above it.
#29 Typical hand holding statist response. I won’t do your thinking for you.
#30, bobbo, the Magnificent,
WOW, what panache, (or is that pinata), what clarity (or was that clearity), what a budding Nazi (or is it budding senior citizen).
Actually, a well done post, I loved it.
😎
#27, Alphie,
Another one of your statist, budding Nazi comments. Typical.
Well, some jobs will be created when we shift one of products there for manufacturing, test, RMA 🙂
Brazil taxes China imports like hell FYI 🙂
I had sex with a brazillian woman once, she was a real pig.
#39
Lucky you. 🙂
At least they are fu.ck-able… Not like the fat-redneck-living-in-the-trailer-white-trash scattered all over your country mate.
If you continue getting good you wont need to go back to your mother/relatives anymore…
#36, Alphie,
You still sound like a statist, budding Nazi, Evangelical, blowhard.
Gee, I never realized how uplifting it was to call some a “budding Nazi”.
#36 What a whiner. At least Pedro brings game.
#42, qb,
Don’t worry. I’m saving all the foil hats. Just in case the price of aluminum goes up again.
^o)
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