COVID-19 forecast to decimate Latin American job market

COVID-19 forecast to decimate Latin American job market

Region projected to lose 11.5 million jobs by year’s end

By Laura Gamba

BOGOTA, Colombia (AA) - Projections by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization indicate the coronavirus pandemic will cost Latin America 11.5 million jobs by the end of the year.

The consequences of the crisis are already starting to be seen in the region.

-Brazil

In addition to health and political crises, an economic crisis caused by COVID-19 has left 5 million Brazilians unemployed and may cause a historic 5% drop in GDP in 2020, according to latest projections.

Health authorities reported Friday 1,124 new deaths from the virus, bringing the total to 27,878. The South American nation surpassed Spain in number of deaths.

President Jair Bolsonaro's disapproval ratings have grown in the past month. According to a survey conducted at the end of April, 38% of Brazilians consider the government to be bad or very bad. The number jumped to from 43% in May, a record level in the midst of political, health and economic turmoil Brazil is experiencing.

-Chile

The unemployment rate in Chile from February to April was 9%, the highest figure in a decade, the National Statistics Institute (INE) reported Friday.

Chile recorded 54 coronavirus-related deaths in the last 24 hours, which brings the number to 944, while the number of infections rising by 3,698 to 90,638.



-Colombia

Unemployment in Colombia is close to 20%, the worst month in its history. According to the latest government data, the number of unemployed rose 2.5 to four million people.

Colombia recorded 31 deaths in the last 24 hours to reach 855 fatalities caused by COVID-19 since the beginning of the pandemic.

-Peru

News outlets have been hard hit by the pandemic in Peru. After 50 journalists at the La Republica newspaper were reported to contract the virus last week, the daily Publimetro newspaper closed its doors Friday after nine years in operation.

The capital of Lima recorded 1.2 million people out of work between February and April.

The country has almost 142,000 cases of coronavirus and 4,099 deaths, the second-highest in Latin America

-Uruguay

President Luis Alberto Lacalle Pou was placed in quarantine Friday after the head of the Territorial Office of the Ministry of Social Development in Rivera, Natalia Lopez, with whom he held a meeting Monday, tested positive for the coronavirus.

He is expected to undergo a COVID-19 test Saturday.

Uruguay has 811 confirmed cases and 22 deaths from the virus.



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