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Brazil’s labour ministry reported a rise in formal jobs during March, following an increase in economic activity. But the number of jobs added grew at a slower pace compared to a year ago.
Brazil’s economy created 112,450 jobs last month, an increase of +0.3% from February, with the number of jobs added meeting market expectations. The ministry said that 1,849,148 people were hired in the month, compared to 1,736,698 who lost their jobs. The latest figures show that the country has added around 306,068 formal jobs this year.
Labour minister Manoel Dias said: “This result is an effect of economic growth, and the country needs to create even more jobs. We expect to create more than 1.7 million jobs this year.” Last year, Brazil created 1.3 million formal payroll jobs, the lowest number since 2003.
Most jobs in March were created in the service sector, posting 61,349 new roles. The processing industry showed net hiring of 25,790 while manufacturing and construction also posted an increase in the number of jobs created. However, payrolls fell in the agricultural sector.
In February, joblessness rose for the second consecutive month with companies cutting back on seasonal workers. The unemployment rate in the month was 5.6%, up from 5.4% in January. Despite the increase, unemployment remains historically low. The average unemployment rate in 2012 reached a record-low of 5.5%, a fall of -0.5% from the previous year.