Brazil registers strongest formal job growth in first half of year since 2010

By Jamie McGeever

BRASILIA, July 29 (Reuters) - Employment growth in Brazil picked up in June, official figures showed on Thursday, the sixth month of gains and bringing the number of formal jobs created in the first half of the year to its highest since 2010.

The increase was widespread, with all five sectors covered by the Economy Ministry figures showing net job growth in June, meaning more than 1.5 million new positions have been opened up in the first six months of the year.

Some 1.6 million positions were created in June and 1.29 million were cut, resulting in 309,114 net new positions. That was up from the previous month and the most for any June since at least 2010, ministry figures showed.

The gains were led by the dominant services sector, which created a net 125,713 new positions. Commerce accounted for 72,887 net new positions, industry 50,145 and agriculture 38,005, the ministry said.

This means Brazil created a net 1.54 million new formal jobs in the first half of the year. These figures do not include the nearly 40 million undocumented workers in Brazil who do not have formal employment registration.

The total number of formally registered workers in Brazil rose to 40.9 million, the highest June reading since 2014, according to ministry figures.

Earnings fell slightly, however, with the average monthly salary of new jobs created in June down 0.1% in real terms from the prior month to an unadjusted 1,806.29 reais ($355.50).

($1 = 5.08 reais)
Reporting by Jamie McGeever; Editing by Toby Chopra

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.