Brazilian ‘great resignation’, news quiz of the week and what matters in the market

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‘Great resignation’ in Brazil is among graduates

Just like in the USA, in Brazil, the resignation has never been as many as it is now. Here, however, the dynamic is quite different from that observed there.

Understand: in both cases the pandemic and its effects served as catalysts for the wave of resignations.

• The main difference is that Brazilians who have applied for the accounts are more qualified –almost half have a degree–, while in the US the movement “The Great Resignation” (the great resignation) affects different strata of the population.

In numbers: from January to May this year, 2.9 million of Brazilians asked to leave work. The number corresponds to 34% of total CLT write-offs and is the highest index in the history series started in 2005. The survey is from Firjan (Federation of Industries of the State of Rio de Janeiro) based on data from Caged.

• Among the total layoffs at the higher level, almost half (48.2%) was voluntary. Among those who did not even finish elementary school, only one in four resignation requests came from the worker.

Jonathas Goulart, manager of Economic Studies at Firjan, says that in Brazil, resignations are restricted to a small group, made up of young people with activities that can be carried out remotely.

THE Sheet has already shown how the technology sector, which brings together professionals with these characteristics, is experiencing a shortage of personnel. The recent mass layoffs in unicorns (startups valued at $1 billion or more) have not changed this trend.

More about the job market

MercadoCoin

MercadoLibre announced this Thursday (18) the creation of its cryptocurrency, MercadoCoin. It will be the basis of a loyalty program for the largest ecommerce company in Latin America.

How will it work: Customers will earn “MercadoCoins” as cashback when purchasing products on the platform.

• These assets can be used to pay for new purchases or traded in the Mercado Pago digital wallet, with the option to transfer the amount in reais. Nothing changes for the sellers, who will continue to receive in reais.

• The currency has an initial value equivalent to $0.10, the company said. As it is not backed, that is, its value is not linked to another asset, it will vary according to market supply and demand.

MercadoCoin uses a standard (ERC-20) and the ethereum blockchain. It is already available to 500,000 users in Brazil and should reach 80 million customers in the country by the end of the month. The custody will be in charge of the fintech Ripio.

Crypto Market: This is another step taken by the Argentinian company in the world of digital currencies, after allowing customers to trade bitcoin, ethereum and USDP (currency backed to the dollar) on Mercado Pago.

• Even with the fall in the prices of these assets in 2022, large national financial institutions have also made crypto trading platforms available to customers in recent weeks, such as rivals XP and BTG Pactual and fintech Nubank.

take a break

Walmart, Walgreens and CVS were ordered Wednesday by an Ohio judge to pay $650.6 million to two counties in the state for their role in the opioid crisis.

The companies claim that pharmacists only respected the prescriptions of doctors, who prescribe substances approved by health authorities.

Understand: this is yet another case of the painkillers epidemic, considered the worst in the country’s history.

To better understand the magnitude of the problem, there are at least three productions on streaming that show different aspects of the crisis and how it involved promiscuity in the relationship between pharmaceutical companies, doctors and authorities:

• “Dopesick”: in eight episodes, the production focuses on the origin of the epidemic by dealing with Purdue Pharma and its OxyContin. The miniseries touches on what the US refused to believe for more than two decades, writes columnist Luciana Coelho. Available on Star+.

• “Crime of the Century”: the documentary by director Alex Gibney, made in partnership with the Washington Post, follows in two episodes the investigations into the collusion between pharmaceutical companies, doctors and authorities. On HBO Max.

• “The Pharmacist”: follows a pharmacist’s battle to investigate and expose corruption in the opioid industry following the death of his son. On Netflix.

In addition to the economy: