The Brazilian economy added 173.14 thousand jobs in February 2019, following an increase of 34.31 in the previous month and beating market expectations of 82 thousand. It was the highest employment gain since February 2014, when 260.82 thousand new positions were opened. Among sectors, the biggest gains were recorded in services (+112,412), manufacturing (+33,472); public administration (+11,395), and construction (+11,097). Meanwhile, net payrolls declined in agriculture (-3,077). Non Farm Payrolls in Brazil averaged 56.79 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 45.00 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 -300.00 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.