Unemployment Soars In Brazil Due To Virus
Muhammad Irfan 4 days ago Tue 30th June 2020 | 09:50 PM
Rio de Janeiro, (UrduPoint / Pakistan Point News - 30th Jun, 2020 ) :Brazil's unemployment rate rose to almost 13 percent in the March-May quarter as the effects of the coronavirus pandemic saw a record 7.8 million jobs cut, according to official figures published on Tuesday.
"It's an unprecedented reduction and mainly affects informal workers," said IBGE analyst Adriana Beringuy.
Employment fell by 8.3 percent to 49.5 percent, another record.
Lockdown measures imposed by various states have also resulted in 1.2 million domestic workers losing their jobs, said IBGE, which estimates there to be five million people employed in such service in Brazil.
The International Monetary Fund expects the Brazilian economy to shrink by over nine percent in 2020.