Argentina, Brazil lead declines in Latin Labor Index
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5th December 2013

Increased difficulty in hiring new employees was the main factor in the declines.

Latin America’s labor environment saw declines for another year shows data from the latest Labor Index from Latin Business Chronicle. As with many indicators in Latin America, the Mercosur economies of Argentina, Brazil, and Venezuela led declines, while the countries of the Pacific Alliance – Chile, Mexico, and Colombia – saw better performance. The LBC Labor Index measures the region’s labor environment based on 18key factors, including the ease of hiring, the ease of firing, theease of enforcing employment contracts, the countries’ minimum wage, vacation policy, education levels, and employer-labor relations.
As a whole, the region continued to see declines – a trend that continued from last year. The largest decline was experienced by Argentina, which saw its overall score fall 13.3 points in our ranking, bringing it from the region’s fifth to seventh most attractive labor environment. The decline owes mainly to increases in the country’s minimum wage –  the region’s highest, which no doubt to keep up with the country’s 30 percent annual inflation rate – and the country’s high maximum length of fixed contracts (60 months), both of which hurt its score for ease of hiring. However, the country retains its relatively high status in the ranking due to its highly-educated and healthy work force.
Other major declines came from Brazil which saw its score fall 9.1 points, making it the second …

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