Key insights
- Brazil's stronger-than-expected job creation in March (228,208 net new jobs) is a positive sign for the Brazilian economy, but the slowdown from February and the year-over-year decline in job creation for Q1 suggest potential headwinds. This could indirectly impact US equities through global growth concerns, but the effect is likely to be limited.
BRASILIA, April 29 (Reuters) - Brazil’s economy created a net 228,208 formal jobs in March, data from the Labor Ministry showed on Wednesday, more than the 150,000 expected by economists in a Reuters poll.
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The net figure accounts for 2,526,660 jobs opened and 2,298,452 closed during the period, the ministry said.
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Job creation slowed in March from February, when it hit its highest level since February last year.
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In the first three months of the year, a net of 613,373 formal jobs were created in Brazil, a 9.1% decline year-over-year.