Brazil Creates 247,818 Jobs In September Exceeding Expectations
Date
10/30/2024 7:00:44 PM
(MENAFN- The Rio Times) Brazil's job market showed remarkable strength in September, surpassing expectations with the creation of 247,818 formal jobs.
This figure exceeded the median forecast of 225,080 new positions predicted by financial institutions and consultancies. The robust performance outpaced last year's September results, which saw 204,600 new jobs.
The Brazilian Economy has generated nearly 2 million new formal positions in 2024 so far. This trend highlights the country's resilience in the face of global economic challenges.
The job growth spans across various sectors, demonstrating a broad-based economic recovery. Four out of five economic sectors contributed to the job creation in September.
The services sector led the way, adding 128,300 new positions. Industry followed with 59,800 jobs, while construction and commerce added 17,000 and 44,600 jobs, respectively.
Job Market Trends in Brazil
Only agriculture saw a minor decline, shedding 2,000 positions. The year-to-date figures paint an even more positive picture. Services have added 1 million new jobs, with industry creating 405,400 positions.
Construction and agriculture have also shown growth, contributing 231,300 and 81,400 jobs, respectively. Commerce has added 216,700 new positions since January.
All five regions of Brazil reported job growth in September. The Southeast led with 98,200 new positions, followed by the Northeast with 77,100 jobs.
The South, North, and Center-West regions also saw gains, adding 38,100, 15,600, and 15,300 jobs, respectively. The average admission salary for new formal employees in September was R$ 2,158.96 ($385.53).
This represents a slight decrease from August's figure of R$ 2,167.21 ($386.99). The marginal decline in average salaries warrants attention but doesn't overshadow the overall positive job market trends.
September also saw the creation of 43,800 new intermittent, apprentice, temporary, and part-time positions. This brings the total number of non-typical jobs created in 2024 to 365,800, reflecting the diversification of Brazil's labor market.
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