Brazil reaches the highest formal employment stock in history: 47.7 million

Brazil exceeded the mark of 2.22 million new formal jobs in the first eleven months of 2024. The balance is positive in the five sectors researched and in the 27 Federative Units. In November, the balance was 106,625 formal employment positions, resulting from 1,978,371 hires and 1,871,746 terminations, according to data from the New General Register of Employed and Unemployed Persons (Novo CAGED), publicized this Friday, December 27, by the Brazilian Ministry of Labor and Employment (Ministério do Trabalho e Emprego/ MTE).

Since the beginning of President Luiz Inácio Lula da Silva’s administration, in January 2023, and until November 2024, the balance exceeds 3.67 million new formal jobs. These results have led to Brazil reaching the highest formal employment stock in history: 47.7 million.

Over the past 12 months, from December 2023 to November 2024, the net gain was over 1.77 million jobs. This result marks a 22.2% increase compared to the previous period, from December 2022 to November 2023, which saw a gain of 1.45 million jobs.

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STATES — In November 2024, 21 of the 27 Federative Units closed the month with a positive balance. The states with the higher balance were São Paulo (+38,562), Rio de Janeiro (+13,810), and Rio Grande do Sul (+11,865). The Federative Units with greater relative variation in that month were Roraima (+1.03%); Amazonas (+0.98%), and Paraíba (+0.53%).

Four regions recorded a positive balance in November. The Southeast remained the largest job creator for the month, with 53,677 new positions, followed by the Northeast (+25,557), South (+24,952), and North (+7,274). Meanwhile, the Central-West region saw a decrease of 7,960 jobs, largely due to a contraction in the agricultural sector in Mato Grosso.

SECTORS — Two of the five economic activity groupings saw a positive balance in November. The Commerce sector was a highlight, with the generation of 94,572 jobs; retail trade activities were responsible for the largest number of posts (83,032). Next was the Services sector, with 67,717 new jobs generated. The Industry sector closed the month with a decline, recording a decrease of 6,678 posts. Agriculture and Livestock (-18,800) and Construction (-30,000) also closed the month in decline.

CUMULATIVE — From January to November 2024, all five major economic sectors showed positive net job growth. The Services sector stands out as the largest job creator of the year so far, with a net gain of over 1.18 million positions. It is followed by Industry (422.6 thousand), Commerce (358,700), Construction (200,600), and Agriculture (57,400).

WOMEN — Women have occupied an expressively larger number of opportunities than men among the new formal jobs generated in November. They filled 105,400 of the new job openings, a result of 861,900 hires and 756,500 terminations. Although men reached 1.1 million hires for the month, with nearly the same number of terminations, they accounted for only 1,134 formal job positions in the monthly balance.

EDUCATION, AGE, AND SALARY — Regarding education, workers with high school degrees represented the largest balance in hires in November: 112,300. As for age, employees aged 18 to 24 occupied most of the job posts (100,400). The average admission salary from last month was BRL 2,152.89 (approximately USD 347.68).