Economics
Brazil’s Formal Job Creation Slows as Election Campaign Picks Up
- July job creation at 218,910, below 258,650 median estimate
- Economy is top factor for voters ahead of October’s election
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Brazil created fewer jobs than expected in July, marking the first slowdown in new posts in four months as a prevalence of low-paying positions weighs on the labor market outlook ahead of October’s election.
The country created 218,902 formal posts, below most analysts forecasts in a Bloomberg survey that had a median estimate of 258,650, according to government data published on Monday. While the figures support odds of a new drop in unemployment, there are signs that the job market is cooling.