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Brazil has lost 104,600 jobs in February

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Staff writer ▼ | March 24, 2016
The deterioration of the economic downturn was responsible for February to register the highest decline of formal jobs in 25 years.
Brazil workers
LatAm   In the last 12 months, Brazil closed down 1,706,985 jobs
According to data by the General Registry of Employed and Unemployed Persons (Caged) of the Ministry of Labor, Brazil closed down 104,582 formal job posts with signed contracts last month.

The figure takes into account the rate differential of dismissals and hiring and is the highest since to a February since 1992, when the research begun.

In the last 12 months alone, the country closed down 1,706,985 job posts, which is equivalent to the decline of 4.14% in the group of employees with signed contracts in the country.

Almost all of the economy’s sectors dismissed more than hired in February, with retail, processing and construction industries standing out. The only sector to register more hiring than dismissals was public services, which created 8,583 jobs posts last month.

With February’s results, the country now has, year-to-date and adjusted, that is, taking into account the January notices sent after the deadline, closed down 204,912 formal job posts.


 

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