Governors and deputies address labour market conundrums at Jackson Hole

Haruhiko Kuroda

While central banks in advanced economies are trying to determine whether the financial crisis prompted an increase in the natural rate of unemployment, the challenge in Brazil lies in figuring out "how much [it] has fallen", according to Alexandre Tombini, the country's central bank governor, speaking at Jackson Hole.

Structural changes, including a steep fall in poverty and inequality, "have increased the demand for low-skilled labour, while investment in human capital has increased the supply

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