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Brazil & Southern Cone - June 2006 (ISSN 1741-4431)
BRAZIL: Feeling good
The government is doing its best to create an economic feelgood factor by jacking up public sector pay, to the disgust of the Tribunal Eleitoral Federal. Even so, real wages are still only where they were in January 2003, when President Lula took office. For the first time, in May 2006, average real wages were above the R$1,013 per month of January 2003. Yet at R$1,027 (US$447), real average wages are still below the R$1,066 of December 2002, the last month before Lula took office.
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