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Brazil, the sixth-largest economy in the world, created 1.3 million formal payroll jobs in 2012, the fewest number of new jobs since 2003. The country saw a slowdown across the mining and manufacturing businesses which impacted hiring levels in the year.
This is according to new data by the labour ministry which showed that the number of new jobs last year fell from 2 million in 2011. Several sectors added fewer jobs in 2012, including the steel and beverage industries. The service sector was also hit by the slowdown although it still created over 660,000 new jobs in the year.
But officials remain positive. “The data shows a continuation in the trend of expansion of formal employment in the country, even though there has been a reduction in the growth rate compared to previous years,” the ministry said.
The labour ministry expects Brazil to create 2 million jobs in the New Year with the economy predicted to pick up again after it grew by just +1% in 2012. Unemployment in Brazil meanwhile fell surprisingly to 4.9% in November, edging closer to an all-time low.