Key insights
- Brazil's formal job creation in April fell significantly short of economists' expectations, marking the slowest pace this year and the weakest April since 2020. This slowdown, with a 23% year-over-year decline in job creation from January to April, suggests weakening economic momentum in Brazil. While a regional indicator, a significant economic slowdown in a major emerging market can have ripple effects on global growth and investor sentiment, potentially impacting risk appetite for US equities.
BRASILIA, May 28 (Reuters) - Brazil’s economy created a net 85,888 formal jobs in April, data from the Labor Ministry showed on Thursday, well below the 230,000 net openings expected by economists in a Reuters poll.
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The net figure accounts for 2,268,655 jobs opened and 2,182,767 closed during the period, the ministry said.
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Job creation was the slowest for any month so far this year and marked the weakest April performance since 2020.
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From January to April, a net of 699,762 formal jobs were created in Brazil, an about 23% decline year-over-year.
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