Brazil Says 496,944 Registered Jobs Lost in December

(Corrects number of jobs lost in first paragraph.)

Brazil’s economy lost 496,944 government-registered jobs in December, the Labor Ministry announced today in Brasilia.

Economists forecast a reduction of 401,500 jobs, according to the median estimate from 17 analysts surveyed by Bloomberg. Last year, in December, jobs fell by 408,172 posts.

Government-registered job creation number is a balance of posts created minus job eliminated. Registered jobs, so-called formal work, assure employees a range of benefits such as unemployment insurance, bonuses and retirement payments by the government.

To contact the reporter on this story: Maria Luiza Rabello in Brasilia Newsroom at mrabello@bloomberg.net

To contact the editor responsible for this story: Harry Maurer at hmaurer@bloomberg.net

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