Economy & Business - January 2008 (ISSN 1741-7430)

The Brazilian economy ended 2007 in decent shape. It should be able to withstand a slowdown in the US economy better than most economies in the region. This is because Brazil is less of a supplier to the US than most Latin American economies. What is interesting about the Brazilian economy is that between 1996 and 2006 formal employment grew as fast as the overall rate of economic growth. This encouraging phenomenon also occurred in 2007, and suggests that rightwing economists sneering about the costo Brasileiro (the social security, tax and administrative costs of employing somebody) is a myth.

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