The Brazilian economy added 43.820 thousand jobs in July of 2019, following an increase of 48.436 thousand in the previous month and beating market expectations of 45.7 thousand. It was the fourth straight month of job creation. Among sectors, the biggest increases were recorded in civil construction (+18,721); services (+8,948) and manufacturing (+5,391). Considering the January to July period, the economy added 461.411 thousand jobs, compared with 448.263 thousand a year earlier. Non Farm Payrolls in Brazil averaged 56.97 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.