Brazil: the slowdown in the economy cools down the job market, and job creation is expected to decrease

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By Vandré Kramer

The pace of job openings in Brazil is slowing down.

Last year, according to the General Cadastre for Employed and Unemployed (New Caged), 2.01 million formal jobs were created, 29.5% less than the previous year.

The slowdown should be stronger in 2023: a bank already forecasts the generation of only 500,000 formal jobs during the year.

The main reason for this scenario is the deceleration in economic activity, which started in the second half of last year.

Between July – the best moment in 2022 – and December, the country’s economic activity level fell 2 . . .

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