Brazil creates record high new jobs

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In November, the Brazilian economy actually created 1,532,189 formal jobs, but reported 1,117,633 layoffs…reports Asian Lite News

Brazil created 414,556 formal jobs in November, marking five consecutive months of growth and a record high for the month since 1992, the Economy Ministry said.

In November, the Brazilian economy actually created 1,532,189 formal jobs, but reported 1,117,633 layoffs, Xinhua news agency quoted the Ministry as saying in a statement on Wednesday.

In October, 394,989 formal jobs were created, while in November 2019, 99,232 formal jobs were opened up.

Despite the positive figures, the jobs result is the worst for the January-November period since 2016, when Brazil lost 858,333 formal jobs in the first 11 months of the year, and shows the impact the raging Covid-19 pandemic has had on the economy.

Most new jobs in November were created in the services sector (179,261), followed by retail trade (179,077) and industry (51,457).

Also read:Brazil’s daily Covid cases near 70k