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The Brazilian economy has created over four million jobs in the formal sector since 2011, according to Brazilian President Dilma Rousseff who announced the news on Monday. In a radio broadcast, she said that job creation played a vital role in reducing inequality in the country.
“If we consider the crisis situation in developed countries, especially in Europe, where unemployment is rising, the new jobs in Brazil show progress towards improving the standard of living of its citizens,” she said.
Ms Rousseff said the service sector was responsible for generating almost half of the jobs in the 12 months to April, indicating increased consumption by Brazilians. She added that healthcare and education created 437,000 new jobs. Industry generated 470,000 jobs and 500,000 jobs were created in civil construction.
“The increase of jobs (and) the minimum wage, whose purchasing power grew over 70% in the last 10 years, the social policies to combat poverty… are largely responsible for the reduction of inequality in Brazil,” she said.
Despite an increase in jobs, the country’s economy has seen slower growth. A survey of analysts and traders by Brazil’s central bank this week projected economic growth of +2.8% for this year. But the government expects the economy to grow by +3.5% in 2013, after growing by just +0.9% in 2012.