Job market shows strong progress in 2017

published: Jan 26, 2018 12:00 AM, last modified: Jan 29, 2018 09:56 AM

Data reveals that much remains to be done, but the path to recovery has already begun

Marcos Santos/USP

The job market has begun to recover. While 2016 saw 1,3 million job positions lost, this year the same indicator stood at a little above 20,000. The numbers come from the General Register of Employed and Unemployed Persons (Caged), a survey conducted by the Ministry of Labour that shows the evolution of formal employment (i.e. with an employment contract) throughout the country.

“By Caged standards, this reduction in 2017 is equivalent to stability of the employment rate, confirming the good numbers in the market in most of the months of last year and pointing to an optimistic scenario for the year now beginning," said acting Labour Minister Helton Yomura.

According to the survey, formal job creation last year was strongest in the trade sector, which added a total 40,087 formal jobs in the year. This is in stark contrast with 2016 (when the segment shed 197,495 jobs) and 2015 (-212,756 jobs).