The Brazilian economy added 58.66 thousand jobs in November 2018, up from 57.73 thousand in the prior month and well above market expectations of 27.5 thousand. It is the fifth straight month of job creation, recorded in 2 of the 8 economic sectors, namely in the trade (+88,587) and services (+34.319) sectors. In contrast, employment decreased in manufacturing (-24,287); agriculture (-23.692); construction (-13,854); public administration (-1,122); mining (-744) and public utilities (-543). Non Farm Payrolls in Brazil averaged 58.55 Thousand from 1999 until 2018, 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 -200.00 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 30.00 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.