Brazil Economy Shed 1.5 Million Payroll Jobs in 2015

AP, 01/21/2016

Brazil lost 1.5 million payroll jobs in 2015 amid a contracting economy that has led to high inflation and layoffs in the manufacturing and service sectors, the labor ministry said Thursday.

The ministry said that 39.7 million workers were formally employed at the end of last year, compared to 41.2 million at the end of 2014 and 40.8 million in 2013.

Labor Minister Miguel Rossetto said last year’s job creation figures are the worst since they started being compiled in 1992.

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