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Brazil lost 751,800 formal jobs in ten months

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Staff Writer | November 30, 2016
Brazil lost 751,800 formal jobs from January to October 2016, the country's Labour Ministry reported.
Brazil job loss
LatAm   An improvement from the same month in 2015
According to the ministry's unemployment registry, the figures are only slightly better than the same period last year, when the Brazilian economy registered a net loss of 818,900 jobs.

From November 2015 to October 2016, the country registered a net loss of 1.5 million jobs. In October alone, Brazil lost 74,700 jobs.

Though negative, the figures represent an improvement from the same month in 2015, when the number of job loss surpassed 169,000.

The Brazilian economy has seen more dismissals than employment for 19 consecutive months, a reflection of the deep crisis the country is facing and the difficulties the government has in boosting economic growth.

The government forecast a GDP fall of 3.5% in 2016 and expects a slight economic recovery of 1% in 2017.


 

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