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Published on 11/19/2015
Formal Employment Shows First Signs of Recovery in Two Years
09/01/2017 - 10h39
After more than two years in decline, formal employment in the private sector showed the first signs of recovery in the quarter ended in July. Not only did the volume of formal jobs created increase, but workers' income also rose, unlike in other categories.
The increase in formal jobs was not dramatic, 0.2% (or 54 thousand jobs), but it interrupts a sequence initiated in 2014 and, more importantly, it is an additional sign, according to analysts, that the market is slowly responding to the modest recovery of national economy.
Formal jobs are important because they offer greater stability to workers, in addition to benefits - health care plan, for example.
However, the market improvement (unemployment rate was 12.8% in the quarter ended in July, compared to 13.6% during the three previous months) is also a reflection of the increase in informal jobs.
According to the comparison between February to April and May to July, 350 thousand people entered the market through self-employment - such as street vendors or Uber drivers.
The total number of informal workers in the private sector has also shown a sharp increase: 468 thousand new jobs.
Translated by ANA BEATRIZ DEMARIA
|Formal employment in the private sector showed the first signs of recovery in the quarter ended in July|