Coronavirus drives Brazil jobless rate to record 14.4 percent

The jobless rate in Brazil hit a record 14.4 percent in the June to August period as the coronavirus pandemic pounded Latin America’s largest economy, the government reported Friday.

News Agency AFP reported that this is the highest level of unemployment recorded in Brazil since the government started measuring joblessness by three-month periods in 2012.

For the May to July stretch it had reached 13.8 percent, which was also a record, the Brazilian statistics institute said. From June to August a record of nearly six million people simply gave up trying to find a job, it added. 

Brazil’s economy lost 4.3 million jobs for the three-month period, bringing the total number of unemployed to 13.8 million people, the government said.

But that was an improvement from the 7.3 million jobs lost from May to July, fueling hope that the recovery is gaining steam.

“We are now seeing greater movement in the labour market,” said Adriana Beringuy, an analyst for the statistics institute.

However, some other numbers remain grim.

On Wednesday the Brazilian real hit a five-month low of 5.75 to the dollar, and the Sao Paulo stock market slid nearly five percent over fears for the impact Europe’s second wave of infections will have on the global economy.

Brazil, Latin America’s biggest country, with 212 million people, entered a recession in the second quarter of the year with a record economic contraction of 9.7 percent.

Lately, forecasts for the year have been improving somewhat.

The International Monetary Fund (IMF), which in June was predicting Brazil’s economy would shrink a devastating 9.1 percent in 2020, this month revised its estimate to -5.8 percent.

The coronavirus pandemic has taken a crushing human toll in Brazil, killing more than 158,000 people. That is the second-highest death toll worldwide, after the United States.

The health crisis has also triggered a political fight in Brazil between state governors who support lockdown measures to save lives and far-right President Jair Bolsonaro, an ally of Donald Trump. 

Like the US president, Bolsonaro regularly downplays the risk of the virus and favours keeping the economy open. 

Brazil was undergoing a gradual reopening during the June-August period, after going into lockdowns that were unevenly implemented depending on the city or state.Bolsonaro faces criticism for his response to the pandemic. Opponents say his resistance to lockdown measures has further weakened the economy, not protected it .Source: https://www.daily-bangladesh.com

Read More........ → October 31, 2020

Bolsonaro again tests positive for coronavirus

Jair Bolsonaro _file

Brasilia: Brazilian President Jair Bolsonaro confirmed that he has once again tested positive for the novel coronavirus, roughly a week after he contracted the virus.

"We hope that in the next few days, they will give me a new test and, everything will be fine so that we can return to normal activity," Xinhua news agency quoted the President as saying in a live Facebook broadcast on Wednesday.

Bolsonaro, who repeatedly played down the risks posed by the virus which he termed "a little flu" and asserting that he would not be seriously affected by it, said he would get tested again in a few days.

In a statement, the communication secretariat of the presidency said that Bolsonaro was currently staying at the Alvorada Palace in Brasilia, "and continues to be accompanied by the medical team".

According to the statement, the latest test was carried out on Tuesday morning and the result came out at night.

On July 7, Bolsonaro announced that after developing a fever and general discomfort, he tested positive for COVID-19 at the Brazilian Armed Forces Hospital.

Bolsonaro is 65 years old, making him part of an age group experts consider to be at high risk for developing complications from the disease.

Brazil currently accounts for the second highest number of COVID-19 cases and deaths in the world at 1,966,748 and 75,366, respectively, according to the Johns Hopkins University.

Despite the rising numbers, Bolsonaro has argued that regional lockdowns werehaving a more damaging effect than the virus itself, and accused the media of spreading panic and paranoia.Source: https://english.madhyamam.com/

Read More........ → July 23, 2020

FIFA World Cup: Sublime Lionel Messi lights up Maracana

Lionel Messi finally made his mark on the World Cup and lit up the Maracana with his first goal in the finals for eight years but Argentina had to battle hard for a 2-1 win over debutants Bosnia in their opening Group F match on Sunday.

Messi, four-times world player of the year and Argentina’s best footballer since Diego Maradona graced the 1986 tournament, put his side 2-0 ahead on a night when the stadium was turned into little Buenos Aires by tens of thousands of his countrymen. “It was important to start with a win and to get three points but we need to improve,” man-of-the-match Messi told reporters. Although they took the lead in the third minute when Sead Kolasinac netted the fastest own goal in World Cup history, Argentina looked unconvincing until Messi struck with a dazzling run and sweet left-foot shot that went in off the post in the 65th minute after a one-two with substitute Gonzalo Higuain. It was Messi’s first goal in the finals since scoring in Argentina’s 6-0 win over Serbia & Montenegro almost eight years ago to the day. Even then they could not afford to relax as Bosnia substitute Vedad Ibisevic scored in the 85th minute to set up a tense finale. “They were two different halves,” Argentina coach Alejandro Sabella told a news conference. “In the first one I think we controlled the Bosnians well, but beyond that, we didn’t create the kind of depth that we managed in the second half. Obviously we need to improve.” The match was the first game in the tournament to be played at the Maracana, which on Monday celebrates the 64th anniversary of its official opening at the start of the 1950 World Cup. It was ironic that it was Argentina celebrating in party-style as they just about lived up their billing as odds-on favourites to qualify from a group which also includes Iran and Nigeria and keep alive their hopes of a third world title. UNWANTED RECORD: The match began dramatically when Kolasinac put through his own net after two minutes eight seconds, beating the previous unwanted record set by Paraguay’s Carlos Gamarra against England in 2006 by 38 seconds. He was in the wrong place when a Messi free kick, headed on by Marcos Rojo, hit him and went in. Bosnia, naturally shaken after making such a bad start to their first ever match in the finals, did not dwell on their misfortune for long. After surviving a nervy spell, they began to look the better side against a subdued Argentina team who were in danger of losing their record of winning their opening match in their last five World Cups. Messi, whose tepid displays in the last World Cup in South Africa when he failed to score were exhaustively documented, made little impression until his goal and Bosnia had their chances with both Senad Lulic and Edin Dzeko going close in the first half. Substitute Ibisevic earned a place in Bosnian soccer folklore by scoring their first World Cup goal when he placed his angled shot through Sergio Romero’s legs, but it was too little too late. Bosnia were far from outplayed, however, and capitalised on a cautious safety-first approach from Sabella in the first half. Playing with five at the back against lone striker Dzeko and with Sergio Aguero and Messi getting limited service in attack, Bosnia dealt with their more illustrious opponents with relative ease. Muhamed Besic did a good policing job on Messi who was largely anonymous in the first half. Sabella changed his formation at halftime, introducing Fernando Gago in midfield and Higuain in attack but in the end it was Messi’s magic, as so often is the case, that made the difference. “The objective was to play as well as we can against Argentina, who are the favourites to win the World Cup, and I think we played a good match,” Bosnia coach Safet Susic said. “We played well in both halves and it was only because of the psychological pressure that we looked as if we had run out of steam a little bit in the closing stages.” Source: The Indian Express

Read More........ → June 16, 2014