With the creation of 102,965 new jobs in March, formal employment in Brazil grew 0.41% in comparison with February. These data come from the Brazilian Ministry of Labor’s General Register of Employment and Unemployment (Caged), released April 19 by Minister Ricardo Berzoini.
The figures for March and for the first quarter (292,222 new jobs) represent a second historical record for the Caged.
2,300,000 jobs have already been created since Lula took office, and in the 12 months ending in March, the increase in formal positions totaled 1,468,106.
This year’s figures are positive, the Minister pointed out, even though they are inferior to last year’s. For Berzoini, employment should grow 3.5% this year, corresponding to 1,200,000 new jobs.
The service sector made the biggest contribution to the increase in March: 54,136 new jobs. Manufacturing added 17,959 positions, and commerce, 13,962.
The Minister observed that conditions are favorable this year and job creation should pick up this semester.
Brazil is one of the countries that least relies on loans to finance activities, according to the Minister. Compared with other countries, Brazil has the smallest ratio of debt to capital assets.
Therefore, the government expects private business investments to continue, the Minister said.