‘Full employment is a threat to Campos Neto’s mission to sabotage Brazil’, says Gleisi

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247 – The national president of the PT, federal deputy Gleisi Hoffmann (PR), used social media to criticize statements by the president of the Central Bank, Roberto Campos Neto, about the indication of full employment in Brazil being a “big surprise” and that this could result in increased inflation.

“Here comes the Bolsonarista Campos Neto threatening the country again with his great work: the highest interest rate on the planet. After encouraging speculation because of the revision of the fiscal target, now he complains that unemployment has become lower than the market I would like to. For the BC president, the prospect of full employment is a threat to his mission to sabotage Brazil’s growth. It is scandalous that this was in the news precisely on Labor Day,” Gleisi posted on X, formerly Twitter.

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Campos Netto’s statement was given to CNN Brasil. “The BC loves it when we have a full employment regime, when everyone who is looking for work finds it, which is our current situation, which has improved a lot and was a big surprise. Other countries also went through this, but Brazil was a big surprise “, said the president of the Central Bank in the interview shown on Wednesday (1). “The concern comes when companies are unable to hire, and you have to start raising salaries. If you raise wages for the same level of production, it means you are starting an inflationary process. So, the concern comes from there”, he added.

According to data from the Brazilian Institute of Geography and Statistics (IBGE), the unemployment rate in the first quarter of 2024 was 7.9% – the lowest ever recorded for a quarter ending in March since 2014 -, representing an increase of 0.5 points percentage in relation to the previous quarter, when the indicator was at 7.4%.

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This Thursday (2), the Minister of Finance, Fernando Haddad, is expected to meet with Campos, at the ministry’s office in São Paulo, to discuss Brazil’s economic trends.