January 26, 2018 / 12:23 PM / a year ago

Brazil sheds nearly 21,000 payroll jobs in 2017 amid slow labor market recovery

BRASILIA, Jan 26 (Reuters) - Brazil lost a net 20,832 payroll jobs last year, data from the labor ministry showed on Friday, highlighting a slow labor market recovery from the deepest recession in decades.

The economy shed a net 328,539 payroll jobs in December, a month that is typically marked by the expiration of temporary contracts, less than the median economists’ estimate of a 411,000 net loss. Brazil’s unemployment rate remains at double digits, though a surge in off-the-books employment dragged it from all-time highs seen early in 2017. (Reporting by Marcela Ayres; Writing by Bruno Federowski; Editing by Lisa Von Ahn)

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