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Brazilian economy shed over 40,000 jobs in January

Xinhua, March 4, 2017 Adjust font size:

The Brazilian economy lost 40,864 formal jobs in January, according to the Ministry of Labor and Social Security on Friday.

The negative balance for January was a result of 1,225,262 hirings and 1,266,126 firings.

However, despite the net loss, it was the best January for the country since January of 2014, when 29,595 jobs were gained. In January of 2016, 99,694 formal jobs were lost.

The numbers by the ministry show that a total of 1,280,863 jobs were shed over the last 12 months, 3.24 percent of the country's total.

In the report, Labor Minister Ronaldo Nogueira added that the results showed real signs of economic recovery and predicted the country would begin adding jobs again, starting in April.

He noted that there had been a clear slowdown in firings in recent months. Enditem