Brazil creates 306.1 thousand formal job vacancies in February, above expectations

Brazil generated a positive balance of 306,111 formal jobs in February, according to data from Novo Caged made available this Wednesday (27) by the Ministry of Labor and Employment. The data came above analysts’ projections, since the LSEG consensus predicted the creation of 245 thousand net vacancies.

It was the third best month of February in history in generating formal jobs, second only to 2021 and 2022.

The February data resulted from 2,249,070 admissions and 1,942,959 dismissals in the month.

In the first two months of 2024, the balance is 474,614 jobs, resulting from 4,342,227 admissions and 3,867,613 dismissals.

According to comparative data from the Ministry, this balance for the first two months is higher than that observed in all years of the first two administrations of Luiz Inácio Lula da Silva (2003-2010), except in the last one when more than 498 thousand jobs were created, with the Please note that the calculation methodology changed in 2020.

But the creation of formal vacancies in January and February combined is second to two years under Jair Bolsonaro’s management: 2021 (652,032) and 2022 (521,336), a period when the economy began to recover after the height of the Covid-19 pandemic.

In the last 12 months (from March 2023 to February 2024), a positive balance of 1,602,965 jobs was recorded, resulting from 23,714,985 admissions and 22,112,020 dismissals.

The stock, which is the total number of active CLT bonds, reached 45,991,889 bonds in February, which represents an increase of 0.67% in relation to the previous month’s stock.

All five major groups of economic activities recorded positive balances in February, led by Services (+193,127 jobs) and followed by Industry (+54,448 jobs), mainly in the Manufacturing Industry (+51,870 jobs). Construction generated 35,053 jobs, Commerce another 19,724 jobs) and Agriculture had a positive balance of 3,759 jobs.

Wage

For the entire national territory, the average salary for admission in February 2024 was R$2,082.79. Compared to the previous month, there was a real reduction of R$50.42 in the average admission salary, equivalent to a variation of -2.36%.