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Brazil's Lula to Set Minimum Wage at R$ 1,518 Effective January 1, 2025; Unemployment Drops to 6.1% with 106,625 Jobs Created
Dec 27, 2024, 01:08 PM
Brazil's President Luiz Inácio Lula da Silva is set to issue a decree establishing the minimum wage at R$ 1,518 starting January 1, 2025. This marks an increase of R$ 106 from the current minimum wage of R$ 1,412, reflecting a real increase above inflation. The new wage structure follows a formula approved by Congress aimed at ensuring the minimum wage keeps pace with inflation while providing additional real growth. Additionally, recent data from the Brazilian Institute of Geography and Statistics (IBGE) indicates that the unemployment rate has dropped to 6.1%, the lowest level since the series began in 2012, with 106,625 formal jobs created in November 2024 alone. This positive trend in employment aligns with Lula's broader economic policies aimed at improving job opportunities and economic stability in Brazil.
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