Brazil opens 135,495 formal jobs in November, below expectations

Brazil opened 135,495 formal job openings in November, according to the Caged (General Register of Employed and Unemployed), released this Wednesday (28) by the Ministry of Labor and Social Security.

Last month’s result was below market expectations, which expected net creation of 168,000 jobs, according to the Reuters news agency.

Job creation for the month is the result of 1,747,894 admissions and 1,612,399 dismissals.

In the year up to November, the balance is 2,466,377 vacancies in the country (with 21,230,904 admissions and 18,764,527 dismissals).

In 12 months, 2,173,080 formal jobs were created, after 22,710,744 admissions and 20,537,664 dismissals.

Industry had a negative balance of 25,707 jobs in November (with more layoffs than hiring), with most of the losses concentrated in the manufacturing industry. In the year, the balance is positive in 366,742 vacancies.

The construction sector also had a negative balance, with a loss of 18,769 jobs in November and the creation of 269,735 jobs in the accumulated result for the year.

Trade already had a positive balance of 105,969 in the month, influenced by year-end hiring and 365,654 in 2022. Services opened 92,213 in November and 1,362,825 in the year.

Despite the lower-than-expected volume of vacancies for the month, job forecasts have been positive, based on the results of recent months. But the good numbers have been attributed to work without a formal contract.

According to the Continuous National Household Sample Survey (PNAD), by the IBGE, which measures informal work, the unemployment rate reached 8.3% in the quarter through October.

The result is the lowest level for this interval since 2014, when the economy was already showing signs of weakness.

With Reuters