Brazil Could Lose Nine Million Jobs in 2020, Says Study

An exclusive study by FGV shows that the unemployment rate in the country could reach 18.7 percent by December.

RIO DE JANEIRO, BRAZIL - The job market has not often been as vulnerable as it is today. With the economy in decline, indebted companies and the closing of small and medium-size companies, 2020 should be a year of job cuts. In Brazil, at least nine million formal jobs should be lost this year, a tremendous figure.

The unemployment rate is expected to reach an unprecedented 18.7 percent, according to study by the Getúlio Vargas Foundation (FGV), something that has not been seen since at least 1992. Last year, there were approximately 12.6 million unemployed in the . . .

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