Brazil generates 58,864 formal jobs in its best November since 2010

Brazil generates 58,864 formal jobs in its best November since 2010

Brazil created 58,864 new formal jobs in November, which is its best result for the month since 2010, while in the first eleven months of the year generated 858,415 formal jobs, 2.27% more than the same period last year , informed the Government today.

The result of November, 0.15% higher than the previous month, is the result of 1.18 million hirings and 1.13 million layoffs, according to data from the General Register of Employees and Unemployed (Caged, in Portuguese acronym ) of the Ministry of Labor.

In the last twelve months of the year, the formal jobs generated increased by 1.36% compared to the same period of the previous year, reaching 517,733 jobs.

By sectors, there was only an increase in employment in trade (88,587 jobs) and in services (34,319 jobs), two of the eight groups analyzed by the Brazilian government.

The industrial sector and the agricultural sector were the most affected in November, as they eliminated 24,287 and 23,692 formal jobs, respectively.

Between 2015 and 2017, some 2.88 million formal jobs were destroyed in the country, reflecting the deep recession that caused the gross domestic product (GDP) to plummet by about seven percentage points in the cumulative 2015 and 2016.

The economy began the resumption of growth last year, when GDP rose by 1.1%, and according to financial market analysts will climb around 1.30% this year, to rise to 2.50% in 2019


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