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back to index backLATINtalk December,  2016


Brazil loses 750,000 jobs in 10 months this year

Brazil lost 751,800 formal jobs from January to October 2016, the country's Labor Ministry said on Thursday.

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.

In addition to the economic problems, Brazil has been facing serious political unrest lately: in August, the Congress voted for the impeachment of President Dilma Rousseff over fiscal issues, and her successor, Michel Temer, has been facing charges of corruption in his cabinet since the beginning of his term.

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

Source: Global Times - GAI





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