Nearly eight million people in Brazil have lost work due to the coronavirus pandemic, according to new figures released by the country's statistics agency
The Brazilian Institute of Geography and Statistics, IGBE, released its report for the trimester showing that a record 7.8 million people lost work in country. Of them, 5.8 million were workers in the informal sector.The institute put the figure of people who are still working in Brazil at the end of May at just 49.5%."For the first time in the historical survey series, the level of occupation was below 50%," IBGE said in a statement.
9 million, an 8.3% contraction from the same period past year.And the unemployment rate in Latin America's largest economy rose to 12.3% at the end of May, affecting 12.7 million people, the highest level since the same three-month period in 2018.Economists are pointing to a historic economic recession in Brazil due to coronavirus, which has decimated an already struggling economy.The Brazilian Central Bank estimates a 6.
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