Brazil creates fewer formal jobs than expected in May

Labor Ministry News

Brazil creates fewer formal jobs than expected in May
Brazil's Economy
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Brazil's economy created a net 131,811 formal jobs in May, Labor Ministry data released on Thursday showed, falling short of the 200,000 forecast in a...

BRASILIA - Brazil's economy created a net 131,811 formal jobs in May, Labor Ministry data released on Thursday showed, falling short of the 200,000 forecast in a Reuters poll of economists.

The number of formal hires was affected by historic flooding in Brazil's southernmost state of Rio Grande do Sul, said Paula Montagner, undersecretary of statistics at the ministry.All economic segments covered by the data showed job growth, led by the crucial service sector with 69,309 net formal hires.

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