Economics
Brazil’s Job Loss Less Dramatic Than Forecast as Economy Reopens
- Economy loses 331,901 jobs in May; estimate was for -900,000
- Economy has started to reopen even as Covid-19 cases soar
Commuters wearing protective masks walk onto excalators inside the Luz train station in Sao Paulo, Brazil, on June 22.
Photographer: Jonne Roriz/BloombergThis article is for subscribers only.
Brazil lost way less jobs than expected in May as Latin America’s largest economy started to reopen despite no sign of letdown in the coronavirus crisis.
Employers eliminated 331,901 formal jobs last month, less then half the 860,503 positions lost in April, according to economy ministry data. Economists surveyed by Bloomberg expected 900,000 job losses in the month.