Unemployment rate in Brazil fell to a record in November. The national central bank warned that the robust demand and the tight labor market pose significant inflation risks and employers reacted swiftly. Brazil is the second largest developing economy and its unemployment rate fell to 5.2% past month, the lowest since 2002. Interviewed by Bloomberg News, Luciano Rostagno, chief strategist at Banco WestLB do Brasil asserted: “Employment was never so strong in Brasil”. The reasons for the jobs growth are the biggest oil finds in the Americas and the creation of new infrastructure for the World Cup and the Olympic Games.

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