The Labor Market: New Trends

BRAZIL ECONOMICS - Report 06 Apr 2015 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

After several years of unemployment rates near historical lows along with rising real wages, the Brazilian labor market has started to show clear signs of weakening. The recent uptick in joblessness is a consequence of the sharp economic deceleration, and has been accompanied by smaller wage increases. These new job market characteristics will almost certainly continue in the coming months, giving a clear indication that despite the surprising recovery of household consumption in the last quarter of 2014, consumption will fall during 2015.

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