The Brazilian economy added 48.436 thousand jobs in June 2019, following an increase of 32.14 thousand in the previous month and beating market expectations of 34 thousand. It was the highest employment gain for a June month since 2013, when 123.836 thousand new positions were opened. Among sectors, the biggest increases were recorded in services (+23,020); agriculture (+22,702); civil construction (+13,136); public utilities (+2,525); mining (+565); and public administration (+483). Meanwhile, net payrolls dropped in trade (-3,007) and manufacturing (-10,988). Considering the first half of the year, the economy added 408.500 thousand jobs. Non Farm Payrolls in Brazil averaged 57.02 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.