Record unemployment in Brazil
Residents try to take a piece of cake as part of the celebrations of the 463rd anniversary
Rio De Janeio - Arab Today
Brazil’s unemployment rate hit a new record high of 12.6 percent between November and January, official data showed Friday, despite government assertions of economic recovery. That meant 12.9 million out of work, deepening the sense of crisis for ordinary people in Latin America’s biggest country after two years of recession.
At nearly 13 million jobless that is a 34.3 percent increase from 12 months ago. Brazil’s economy shrank 3.8 percent in 2015 and is expected to have contracted a further 3.5 percent in 2016, the most painful recession in a century.
Source: Arab News
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