Unemployment Rate In Brazil – Essay Example
The paper "Unemployment Rate In Brazil" is an exceptional example of an essay on human resources.
The unemployment rate is defined as the total number of unemployed persons expressed as a percentage of the total labor force. The unemployed workers are those people who are currently not working but are willing and able to work at the prevailing wage rates. Unemployment rates in Brazil have registered an irregular pattern over the years with the highest rate being witnessed in the April 2004 which stood at 13.1% and the lowest rate was seen in December 2011 at 4.7%. The rate of unemployment decreased to 4.3 percent in December of 2014 from 4.8 percent in the previous month. This decrease is reported to have been below the market expectations. Yet, employment decreased 0.7 percent and a record of 300 thousand persons was detached from the labor force. It is recorded that the rate of unemployment fell by 141 thousand to 1.05 million in December from the previous month. In the same period, the number of employed persons decreased by 159 thousand to 23.22 million. Yet, 322 thousand persons were underemployed on December, 36 thousand less than in the previous month (Marshalle, 121).
The Brazilian government has taken drastic steps aimed at reducing the rates of unemployment in the country such as encouraging the youth to adopt self-employment techniques, encouraging the development of small-scale and village industries in bid to offer employment opportunities in the rural areas and offering of soft loans to young innovative minds who comes up with entrepreneurial skills and abilities. Brazilian government aims at reducing bank lending rates so as to encourage private investment which in turn creates more employment opportunities (Berg, et. al, 011)