Economy & Business - December 2021

ECONOMIC HIGHLIGHTS

BRAZIL | Government revises employment figures. Brazil closed 2020 with negative formal job creation, according to revised figures made public on 30 November. The national employment registry (Novo Caged) had initially indicated that 142,960 formal jobs were created in Brazil in 2020, despite the impact of the coronavirus (Covid-19) pandemic which drove up the unemployment rate. This number had already been cut by half following updates in September; further revisions to the Caged, which now falls under the responsibility of the labour ministry, found that Brazil actually lost jobs in the formal sector last year, with the disappearance of 191,502 posts. The total stock of formal jobs stood at 38.56m in 2020.   

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