September 25, 20 - 12:06 pm - LABS

In a four-month period of the COVID-19 pandemic, unemployment in Brazil grew 27%

In a four-month period of the COVID-19 pandemic, the number of unemployed in Brazil grew 27%, reaching 12.9 million Brazilians in August, according to Brazilian Institute of Geography and Statistics (IBGE, in Portuguese). There are over more 2.8 million Brazilians in the unemployed group.

According to Financial Times, globally, 10% of workers had a drop in their income due to the coronavirus pandemic. Data comes from the International Labour Organization. It represents a loss worth more than $3.5 trillion. The economic rebound will be tough since a large number of people left the market, said the entity.

The International Labour Organization estimate is equivalent to 5.5% of global gross domestic product and was derived from the number of working hours lost since the start of the pandemic. The figure does not take into account wage support schemes or state benefits used by governments to mitigate the loss of earnings.