LatinNews Daily - 28 May 2020

In brief: Huge job losses in Brazil’s formal sector

* Brazil’s economy ministry has released the latest figures from the national employment registry (Caged), according to which over 1m formal jobs were lost in March and April this year. A net 860,503 jobs were lost in April, with 1.46m dismissals (a 17.2% increase on April 2019) and 598,596 appointments (a 56.5% decrease compared with 2019), while a net 207,401 jobs were lost in March. Over the first four months of 2020, job appointments fell by 9.6% while dismissals increased by 10.5% compared with the same period in 2019, leading to a net loss of 763,232 formal jobs in January-April. The economy ministry has sought to highlight that the negative result is primarily due to a sharp decline in new job positions because of the coronavirus (Covid-19) pandemic, rather than a big increase in dismissals. The release of Caged figures was temporarily suspended in March, as the pandemic impacted data collection.

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