Baixo crescimento econômico e melhora do mercado de trabalho - Como entender a aparente contradição?

Abstract

This paper discusses the favorable evolution of the Brazilian job market since 2004, when wages began to increase and both unemployment and informal employment decreased. It focus particularly on the 2011/2013 period, when the economy slowed down sharply, but the labor market continued to show positive results. The central argument is that this type of performance derives from a low level of labor productivity that is conducive to the creation of a large number of low-productivity, poorly paid jobs.