Brazil ended June with a net gain of 145,161 formal jobs. The result for the month stemmed from 2,220,131 new hires and 2,074,970 terminations, according to data released on Wednesday (Jul. 29) by the Ministry of Labor and Employment.

The total number of formal jobs last month stood at 48,032,308, representing a 0.30 percent increase compared to the previous month’s total. Over the past 12 months, the net gain has totaled 942,854 jobs.

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All five major economic sectors posted positive hiring results in June. Services ended the month with a net gain of 74,514 jobs, while agriculture and livestock recorded a net increase of 22,898 jobs. Retail added 19,177 jobs, manufacturing added 4,438, and construction posted a net gain of 14,136 formal jobs.

Wages

The average real starting wage in June stood at BRL 2,404.34, up BRL 16.90 in real terms from the previous month.

Young people aged 18 to 24 accounted for 100,597 new jobs, while those aged 17 and under accounted for 24,833. The 25-to-29 age group posted a net gain of 13,007 jobs, and workers aged 30 and older recorded a net increase of 6,724.

Dark brown workers accounted for 106,176 jobs, while white and black workers totaled 28,636 and 20,199, respectively.

Jobs

Despite the positive result, the figures represent a decline from the same period last year, when 161,999 jobs were created.

Minister of Labor and Employment Luiz Marinho attributes the decline in job creation to Brazil’s Central Bank’s interest rate policy, which is contracting the economy.

The bank has been gradually reducing the economy’s benchmark interest rate, the Selic rate. At its latest meeting, the monetary authority cut the interest rate by 0.25 percentage points, bringing it to 14.25 percent per year.

The minister also attributed the results to the tariffs imposed by US President Donald Trump on various Brazilian products and to international conflicts.