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Brazil posts biggest formal job gain for July since 2012

Christian Fernsby ▼ | August 22, 2020
Brazil posted its strongest July job growth in eight years, official figures showed on Friday, snapping four consecutive months of job losses.
Brazil jobless
Gain   Brazil jobless
The addition of a net 131,010 formal jobs in July was driven by industry and construction, which together accounted for over 70% of the overall gains, followed by retail and agribusiness.

Topics: Brazil

Services continued to shed jobs, the economy ministry said.

Over 1 million jobs were created, while 912,640 positions were lost.

July’s figures followed a downwardly-revised 19,579 formal job losses in June, and brings the net loss in the first seven months of the year to 1.1 million.

Economy Minister Paulo Guedes said he was “excited” by the “extraordinary” figures.