Government Revises Employment Data again to Show Significant Decrease in Formal Employment in 2020

CAGED changes last year's result from opening 75 thousand vacancies to closing 191,000

The government revised the labor market data again in 2020 and the year, which until then registered the creation of 75.9 thousand jobs, now shows a cut of 191.5 thousand jobs.

This puts an end to the government's speech that there was an improvement in formal employment even during the pandemic. This is the second time the 2020 data has undergone a significant revision. In early November, it was revealed that the data updated by the government pointed to half of the creation of vacancies as originally released.

According to data released in January by the Ministry of Economy, the number was positive at 142.6 thousand jobs in 2020. After adjustments with numbers delivered by companies after the deadline, the balance shrank 46.8%, to 75.9 thousand jobs created. Now, there was a review of over 267,000 vacancies - which turned the result for the year negative.

Translated by Kiratiana Freelon

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