Brazil Says 277,944 Net Formal Jobs Created in June

Brazil created a net 277,944 formal jobs in June, with all sectors of the economy posting growth, figures from the country's labor ministry showed on Thursday, Reuters reported. That number, however, was lower than the 317,812 jobs created in the same month last year, said the ministry, which based its figures on adjusted government data. Net job creation in South America's largest economy reached 1.335 million in the six months of the year, with each month recording growth. A strong labor market has led Brazil's government to forecast 2% growth this year, boosted by strength in the services sector and the continued reopening of the economy after the coronavirus pandemic. The services sector created 124,534 new jobs in June, making it the biggest contributor to the overall result, followed by 47,176 new jobs in the retail sector and 41,517 jobs in the industrial sector. The average monthly salary of the new jobs created in June was 1,923 reais ($369.64), a 0.68% increase from May, the ministry said. Read more.