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Brazil & Southern Cone - January 2014 (ISSN 1741-4431)

ECONOMY: Brazil’s labour market not entirely made of Teflon

On 21 January Brazil’s labour ministry reported that Brazil created the fewest jobs in a decade in 2013. The strong labour market has been a key anchor for the ruling left-wing Partido dos Trabalhadores (PT) and President Dilma Rousseff won’t like to see it loosen ahead of her bid for a second term in October. Brazilian voters are already fed up with sticky inflation; any talk of job losses would add to their tetchy humour with their elected representatives. The latest figures have to be put into context, however.

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