Brazil losses 497,000 payroll jobs in Dec, worse than expected

BRASILIA Fri Jan 25, 2013 11:36am EST

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BRASILIA Jan 25 (Reuters) - Brazil's economy shed a net 497,000 payroll jobs in December, the labor ministry said on Friday, a bigger drop than the median of analysts' forecasts of a loss of 402,000 jobs.

Brazil, Latin America's largest economy, added 46,000 payroll jobs in November.

In December, local businesses and industries tend to fire temporary workers after bolstering output ahead of the Christmas holidays.

For the whole year, Brazil created 1.3 million new jobs, the ministry said.

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