São Paulo state creates 36,000 new jobs in June testifying to robust growth and investor confidence

In June, São Paulo state, a Brazilian powerhouse with an economy outstripping that of Argentina, bolstered its workforce with an impressive 36,000 fresh formal jobs, according to data collated by the renowned Seade Foundation.

This robust upswing marks a 0.3% rise in formal employment, effectively surpassing the figures from the preceding month, May 2023.

From January to June, the state generated 276,000 new positions, representing almost 30% of all jobs created nationwide.

]This figure signifies a 2.1% increase compared to the same period in the previous year.

Governor Tarcísio de Freitas stated, “The excellent results in generating more jobs and income show that the confidence of entrepreneurs and investors in our state has also been on the rise since January.”

This sentiment extends from micro-entrepreneurs to international investors, alongside an improved rating for São Paulo by Fitch, one of the world’s leading risk rating agencies.

The new job positions in June resulted from 587,000 hirings and 550,000 dismissals.

As a result, the stock of formal jobs stood at 13.4 million in the state of São Paulo, according to the General Register of Employed and Unemployed (Caged) from the Ministry of Labor and Employment.

Freitas commented, “It is very gratifying for our administration to confirm that our policies of total support for free enterprise and tax relief are making a difference and improving people’s lives.”

In June, employment growth was observed in agriculture (3.4%) and, to a lesser extent, in construction (0.3%), trade (0.2%), and services (0.2%).

The industrial sector remained stable.

In services, notable sectors were administrative activities and complementary services, with 13,000 vacancies; and accommodation and food, with 4,000 job positions.

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