Brazil's economy lost 1.2 million formal jobs in the first half of the year, official figures showed on Tuesday, but the losses almost evaporated in June, indicating that the labor market is over the worst of the coronavirus crisis.
BRASILIA - Brazil’s economy lost 1.2 million formal jobs in the first half of the year, official figures showed on Tuesday, but the losses almost evaporated in June, indicating that the labor market is over the worst of the coronavirus crisis.
While it marked the fourth month in a row of jobs losses, the decline was significantly less than that seen in each of the previous three months when hundreds of thousands of jobs were lost. June’s figures followed an upwardly revised 350,000 formal job losses in May and brought the net loss in the first six months of the year to almost 1.2 million.
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