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Bacchus4.0

(6,837 posts)
Thu Apr 21, 2016, 09:42 AM Apr 2016

Brazil loses millions of jobs amid political crisis

http://money.cnn.com/2016/04/20/news/economy/brazil-unemployment-jobs/

Between December and February, Brazil's unemployment rate shot up to 10.2%, according to government data published Wednesday. That's the same level the U.S. jobless rate had hit around the Great Recession in 2009.

A year ago, Brazil's unemployment rate was at 7.4%, wages have fallen nearly 4% and inflation remains high.

The bad job news comes just days after Brazil's Lower House of Congress voted to impeach President Dilma Rousseff for allegedly hiding a budgetary deficit to win re-election in 2014.

Rousseff could have her presidency suspended as soon as May when the Senate votes on impeachment.
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