The Brazilian economy has seen an overall loss of 331,991 jobs in the month of May. The number is the outcome of 703,000 new admissions and 1 million firings nationwide.
This is the third consecutive month that the General Register of Employed and Unemployed Persons (Caged) — the institution in charge of monitoring every formal hire and dismissal in Brazil — provides deeply negative results. Since January, the Brazilian economy has lost some 1.44 million registered jobs.
The services sector was hit the hardest, closing 143,000 positions. Industry saw a drop of 97,000, while construction lost another 19,000.
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