Following the recession earlier, Brazil is currently struggling to keep the economic balance as the country’s unemployment rate has reached record high after a slow growth rate.
According to latest data published earlier this week, more than 14 million Brazilians are currently out of work which makes up an unemployment rate of 13.6 percent. Prior to the economic crisis the country is currently going through, the unemployment rate was mere 6.5 percent.
The latest crisis in the job market started with the country’s longest recession. However, the shrinking of the country’s economy finally ended earlier this year as the country’s economy grew by 1 percent during the first quarter.
Despite that, it’s widely understood that a large number of people in the country won’t experience sudden changes in their lifestyles as corruptions are rising in recent months.
Earlier last year, then President Dilma Rousseff was removed based on charges that he manipulated the country’s budget and current President Michel Temer allegedly continued to follow similar trend as reports mentioned that he paid up a former congressional leader now in jail to stop leaking information. However, he denied the allegation.
Apart from that, the country was hit with a bad news as the world’s largest meat packing company JBS, will be forced to pay a humongous $3.2 billion fine due to its role in the corruption scandal. Previously in April, U.S. Judge provided a verdict that Odebrecht will need to pay $2.6 billion to the authority for similar allegations.
Featured Image: Wikimedia Commons