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Formal Employment Hits New High, but Outlook Is Still Gloomy

09/22/2017 - 11h29

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LAÍS ALEGRETTI
FROM BRASÍLIA

The Brazilian labor market showed signs of recovery in August, but not enough to ensure positive results in 2017.

The country created 35,500 formal jobs in August, according to Caged (General Employment and Unemployment Register).

It was the fifth consecutive month with a positive result. The government celebrated the fact that, for the first time in the year, all regions of the country reported positive results in August.

The Ministry of Labor wants to avoid making predictions for 2017. According to the general statistics coordinator, Mário Magalhães, 2017 will not end with a positive balance.

"If you have a candle, light it up, if you have a Hail Mary, you can pray," he said.

The balance related to accrued results from January to August is positive, and 163,400 jobs were created. During the same period last year, the result was negative at 651,200 jobs.

According to professor Hélio Zylberztajn, from the University of São Paulo (USP), August results followed the upward trend of previous months. "It is not growth yet, it is stability in the formal employment level."

Zylberztajn anticipates the result at the end of the year will be negative. He believes the balance should go up until November, but the high number of usual layoffs in December is likely to cause numbers to close in the red.

The good news, according to him, is that the balance will be less negative than in 2016, when it exceeded 1 million lost jobs.

The balance for the last 12 months, despite the positive result until August, is negative at 544,600 jobs.

Translated by ANA BEATRIZ DEMARIA

Read the article in the original language

Danilo Verpa/Folhapress
The Brazilian labor market showed signs of recovery in August, but not enough to ensure positive results in 2017
The Brazilian labor market showed signs of recovery in August, but not enough to ensure positive results in 2017

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