Friday, June 25, 2010

Brazil’s good news and bad

Brazil’s unemployment rate hit an eight year low in May, registered at 7.5% according to the Brazilian Institute of Geography and Statistics. That’s the good news. Lowest in eight years – it’s like opposite land here compared to the US.

The bad news is that, while up 2.5% from a year ago, the average working Brazilian’s wage was just US$795 a month. Ouch.

So when I mention the high cost of living here it should be understood as a combination of both high consumer prices and the low wages we earn. Unfortunately neither Luiz nor I work for an American firm earning US dollars. We’re right here on the ground in Brazil, livin’ like the locals.

Não é facil. (But then, it seems every week we have a holiday.)

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