Sep 26, 2011

Labor Market and Wages

IBGE - Brazilian Institute of Geography and Statistics - reported the average wages that prevailed in the labor market in the country's six largest cities: Sao Paulo. Rio de Janeiro, Belo Horizonte, Porto Alegre, Recife and Salvador. According to these data, the average salary in July was BRL1,613, equivalent to USD 1,031 per month. Over the past 12 months, real average salary was USD 12,450 in annual basis. Between May '04, which was its lowest value, as we can see from the chart below, and Jul ’11, the average annual growth in real wages measured in constant USD was 3.5% a.a.

Source: IBGE

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