RIO DE JANEIRO, BRAZIL – Brazil is experiencing the longest period of increasing inequality in its history, with growth in income concentration for more than seventeen quarters, according to a study by FGV Social economist Marcelo Neri.
The survey also shows that the number of poor grew in the country and reached 23.3 million in 2017. These are people who live on less than R$233 (US$58) per month.
High unemployment, which still affects twelve million people, is the main cause of high inequality.
The difficulty of finding a job is even more harmful to young people. The working income of Brazilians between the ages of twenty and 24 shrank seventeen percent between the fourth quarter of 2014 and the second quarter of 2019, according to the study.
(Source: O Globo)