Brazil is planning to create 2 million formal jobs in 2023. The Labor and Employment Minister, Luiz Marinho, indicated that the government expects a net addition of 2 million legal jobs this year.
Although the July employment figures will be positive, they will not meet the desired levels.
In 2022, the Brazilian economy created 2.04 million formal jobs, a 26.6% decline from 2021, when 2.78 million jobs were created.
In 2023, the unemployment rate decreased to 8% in the quarter ending June, the lowest since 2014.
Official figures show a 0.8 percentage point drop from the previous quarter, which had an 8.8% unemployment rate.
The Brazilian Institute of Geography and Statistics released data showing a more significant decrease of 1.3 percentage points compared to the same period last year, Q2 2022, when the rate was 9.3%.
The workforce underutilization rate decreased in both comparisons, falling 1 percentage point from the last quarter and 3.4 percentage points from the same period the previous year, reaching 17.8%.
There was a 5.7% reduction in underutilized people, equivalent to 1.224 million fewer people, compared to the previous quarter.
The index dropped even more sharply, by 17.7% or 4.385 million fewer people, compared to the same quarter last year, reaching 20.4 million.
This positive trend in employment figures indicates that Brazil is on a path to economic recovery.
The government has been implementing policies to stimulate job creation and reduce unemployment.
These measures include investing in infrastructure, supporting small and medium-sized enterprises, and promoting innovation and technology.
Additionally, the government has been working to attract foreign investment and facilitate business operations.
Ultimately, the aim is to create a more robust and resilient economy, providing more opportunities for its citizens and reducing social inequalities.
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