Brazil’s formal labor market added 58,568 jobs in July, according to data from the Ministry of Labor and Employment’s Cadastro Geral de Empregados e Desempregados (Caged), released on Friday.
The net gain resulted from 2,262,888 new admissions offset by 2,204,320 dismissals, reflecting a modest expansion in hiring activity during the month. The figure trailed economists’ projections, with a Reuters poll anticipating a net increase of 112,000 jobs.
The July report marks the latest monthly labor market snapshot from Caged, which tracks formal employment dynamics across Brazil’s economy. The discrepancy between actual and expected job creation underscores ongoing volatility in labor demand, even as the economy shows signs of stabilization following recent volatility in key sectors.
