The Brazilian economy added 121.39 thousand jobs in August of 2019, following an increase of 43.820 thousand in the previous month and beating market expectations of 98 thousand. It was the fifth straight month of job creation. Among sectors, the biggest increases were recorded in services (+61,731); trade (+23,626); manufacturing (+19,517); civil construction (+17,306); public administration (+1,391) and mining (+1,235). Considering the January to August period, the economy added 593.467 thousand jobs, compared with 568.551 thousand a year earlier. Non Farm Payrolls in Brazil averaged 57.23 Thousand from 1999 until 2019, reaching an all time high of 309.44 Thousand in June of 2008 and a record low of -654.95 Thousand in December of 2008.
Non Farm Payrolls in Brazil is expected to be 100.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Non Farm Payrolls in Brazil to stand at 50.00 in 12 months time. In the long-term, the Brazil Net Payrolls is projected to trend around 30.00 Thousand in 2020, according to our econometric models.