Good morning! We’re covering the latest government attempt to crack youth unemployment. How Jair Bolsonaro tries to hurt the press. And the unraveling of the Bolivian crisis. (This newsletter is for platinum subscribers only. Become one now!)
The government’s plan to tackle youth unemployment
President Jair Bolsonaro launched a program aiming at reducing youth unemployment levels. It allows companies to pay fewer benefits and social contributions when hiring youngsters in their first professional position.
Why it matters. One-third of people between 18 and 29 years old is out of the workforce. Since 2012, this age group lost almost 15 percent of its income, despite studying more than previous generations.
Lost millennials? In Brazil, 23 percent of Brazilian young people are neither working nor studying, earning them the moniker “Neither-Nor.” In the rest of the world, this slice of the population goes by the acronym “NEET,” that is, someone “Not in Education, Employment, or Training.” This group is usually made up of underprivileged young people and women.
Government goals. The Bolsonaro administration hopes to create 1.8 million new jobs by December 2022.
Yes, but … There is little evidence to support that by lowering employers’ dues, they will hire more. Brazil’s...