LatinNews Regional Monitor: Brazil & Southern Cone - 21 June 2018

*Brazil’s labour ministry has reported that 33,659 new formal jobs were created in the country in May. According to a ministerial statement this marks the fifth consecutive month in which there has been an increase in formal job creation in the country. The statement also points out that the May job creation figure brings the accumulated job creation to date this year to 381,166 new jobs, a 1% year-on-year increase. This moderate increase in job creation is not sufficient to significantly reduce Brazil’s high unemployment rate, which on official figures stood at 12.9% in April, meaning that 13.4m remain unemployed.

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