Brazil opened a net 121,305 formal jobs in September, according to Caged data released by the Ministry of Labour and Employment. The figure fell short of the 170,852 jobs expected by economists in a Reuters poll. Formal hiring reached 2,214,437 admissions, while dismissals totalled 2,093,132.
The September balance was the weakest for the New Caged series, which starts in 2020. Including earlier data under a different methodology, it is the lowest September since 2017, when net creation was 49,283 jobs. The result was also well below the 214,609 jobs added in September of the previous year.
Sector breakdown shows broad gains
Four of the five activity groupings recorded positive net job creation in September. Services led with 81,241 jobs, followed by industry with 19,285 and commerce with 15,697. Construction added 9,468 jobs.
Agriculture and livestock was the only sector to shed jobs, losing a net 4,381 positions in the month.
Year-to-date picture and rate decision
From January to September, Brazil has generated a net 1,248,914 formal jobs. The stock of formal employment with signed work cards stood at 48,359,577.
It has said it observes moderating economic activity but a labour market that remains heated.
Source: Ministry of Labour and Employment
