Brazil's unemployment to rise by 700,000 people in 2016, says ILO
Street vending tends to increase as unemployment rises
The United Nations-affiliated International Labour Organization (ILO) forecasts the world's unemployed population will grow by 2.3 million people this year and 1.1 million in 2017. This means 3.4 million more unemployed people in two years' time.
Of the total number of workers who will join the unemployment statistics in 2016, 700,000 are Brazilians. These figures are in the ILO's World Employment and Social Outlook – Trends 2016 report released Tuesday (Jan. 19).
According to the organization, the predictions are based on recent economic growth projections. The global economic slowdown in 2015 tends to impact labor markets in 2016, resulting in a rise in unemployment, especially in emerging economies including Asia and Latin America.
Particularly in Latin America, the ILO reported that Brazil, “the largest economy in the region”, is “entering a severe recession.” The economic downturn in the country reflects “a combination of the decline in commodity prices and structural factors.” Weak productivity gains were cited as Latin America's main structural problem.
Translated by Mayra Borges
Fonte: Brazil's unemployment to rise by 700,000 people in 2016, says ILO
