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A research program titled Voices of the New Middle Class found that per capita income rose from 591 reais (about $256) in 2001 to 783 reais ($340) in 2011.
The period also saw a 20 per cent increase in employment generation while average pay increased by 24 per cent.
Sixteen million new jobs were added during this time.
Brazil’s much celebrated public wealth transfers also led to the income rise, according to the study.
Brazilian social welfare programs like Brasil Sem Miséria and Bolsa Família, have brought millions out of poverty. Brazil’s annual federal welfare spending is currently over 30 billion reais.
The new report added that the job market still has a high turnover rate, with 40 per cent of workers changing jobs every year.
Brazil was rocked by protests earlier last month with demonstrators asking for more investment in public services, especially education, medical care and transportation.