LatinNews Daily - 29 January 2021

In brief: Brazil sees net formal job creation amid high unemployment

* Brazil’s economy ministry has released the latest figures from the national employment registry (Caged), which show that a net 142,690 formal jobs were created in 2020, despite big job losses recorded in March-April with the onset of the coronavirus (Covid-19) pandemic. Economy Minister Paulo Guedes declared the positive job creation figures “great news” in a “terrible year when GDP fell 4.5%”. Figures separately released by the national statistics institute (Ibge) show that unemployment remains at historically high levels, however. The unemployment rate totalled 14.1% in the September-November 2020 rolling quarter, only slightly below the 14.4% unemployment rate recorded in June-August, and 2.9 percentage points higher than the unemployment rate recorded in September-November 2019.  

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