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Brazil lost 94,724 payroll jobs in July

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Staff Writer | August 26, 2016
Brazil's economy shed a net 94,724 payroll jobs in July, the Labor Ministry said, taking total job losses over the past 12 months to 1.7 million.
Brazil private sector
Jobs in Brazil   Economy is expected to shrink more than 3 percent
Job cuts increased from June, when Brazilian companies shed 91,032 payroll jobs, but were not as steep as in July 2015, when the economy lost 157,905 jobs. The median expectation in a Reuters poll projected 88,000 job cuts in July.

Brazil's economy is expected to shrink more than 3 percent for a second straight year in 2016, with over 11 million workers officially considered unemployed.