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Brazil registers strongest formal job growth in first half of year since 2010 - Metro US

Brazil registers strongest formal job growth in first half of year since 2010

FILE PHOTO: People look at job listings posted on a street in Sao Paulo

BRASILIA (Reuters) – Employment growth in Brazil picked up in June, official figures showed on Thursday, the sixth month of gains and bringing the number of formal jobs created in the first half of the year to its highest since 2010.

The increase was widespread, with all five sectors covered by the Economy Ministry figures showing net job growth in June, meaning more than 1.5 million new positions have been opened up in the first six months of the year.

Some 1.6 million positions were created in June and 1.29 million were cut, resulting in 309,114 net new positions. That was up from the previous month and the most for any June since at least 2010, ministry figures showed.

The gains were led by the dominant services sector, which created a net 125,713 new positions. Commerce accounted for 72,887 net new positions, industry 50,145 and agriculture 38,005, the ministry said.

This means Brazil created a net 1.54 million new formal jobs in the first half of the year. These figures do not include the nearly 40 million undocumented workers in Brazil who do not have formal employment registration.

The total number of formally registered workers in Brazil rose to 40.9 million, the highest June reading since 2014, according to ministry figures.

Earnings fell slightly, however, with the average monthly salary of new jobs created in June down 0.1% in real terms from the prior month to an unadjusted 1,806.29 reais ($355.50).

($1 = 5.08 reais)

(Reporting by Jamie McGeever; Editing by Toby Chopra)

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