Brazil creates more formal jobs than expected in August
EWZ•Brazil created a net 165,827 formal jobs in August, above economists’ expectation of 97,826. Job creation rose 7.2% year-on-year, while January-to-August net job creation fell about 25%.
1. August job growth
Brazil created a net 165,827 formal jobs in August, above economists’ expectation of 97,826. The total reflected 2,294,563 jobs opened and 2,128,736 closed; job creation rose 7.2% year-on-year but was the second weakest August performance in the government’s series, which goes back to 2020.
2. Year-to-date total
From January to August, Brazil recorded a net 1,134,033 formal jobs, down about 25% year-on-year.
