The Brazilian economy created 142.7 thousand formal jobs in July of 2023, slightly above market expectations of 142 thousand but down from 157.2 thousand in the previous month. It marks the seventh consecutive month of job growth but the slowest in the current sequence that began in January 2023. All five activity groups surveyed recorded positive results, once again led by the dominant services sector (+56,303), which was followed by trade (+26,744), construction (+25,423), industry (+21,254), of which manufacturing (+18,301) and agriculture (+12,978). Job creation was observed in 26 out of the 27 federal states, led by Sao Paulo (+43,331), Rio de Janeiro (+12,710) and Minas Gerais (+12,353). The average monthly salary of the new jobs created in the month was 2,032.56 reais, up 0.96% from June. source: Ministério do Trabalho e Emprego, MTE
Non Farm Payrolls in Brazil averaged 69.85 Thousand from 1999 until 2023, reaching an all time high of 415.00 Thousand in November of 2020 and a record low of -860.50 Thousand in April of 2020. This page provides the latest reported value for - Brazil Net Payrolls - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Brazil Net Payrolls - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.
Non Farm Payrolls in Brazil is expected to be 75.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil Net Payrolls is projected to trend around -250.00 Thousand in 2024 and 150.00 Thousand in 2025, according to our econometric models.