Brazil Loses Almost 332,000 Formal Jobs in May, CAGED Reports

RIO DE JANEIRO, BRAZIL – According to data from the National Register of Employees and Unemployed (CAGED) released on Monday, June 29th, Brazil had a net loss of 331,901 jobs with a signed worker’s record book in May.

The result is the difference between hirings, which totaled 703,921, and dismissals, totaling 1,035,822, amid the impact of the novel coronavirus pandemic on activity, according to data released by the Ministry of Economy’s Labor Secretariat.

In the first five months of the year, 1,144,875 jobs were closed, in the adjusted series.

Despite representing a loss of jobs, the result was better than in April, when the country lost 860,500 jobs, the worst result for a month since official records began in 1992. Until then, the worst month had been December 2008, with the loss of 695,361 positions.

Source: InfoMoney