Overview

• Official Caged data show a net gain of 147,358 carteira-assinada jobs in August, the smallest August increase since the series began in 2020.
• The result was about 38% below August 2024 and came in under market medians that ranged from roughly 170,000 to 184,000.
• From January to August, Brazil added 1,501,930 formal jobs, with services leading August hiring (+81,002) and agriculture posting a net loss of 2,665.
• Hiring balances were positive in 25 of 27 states, led by São Paulo (+45,450), and the average admission wage edged up to R$2,295.01.
• IBGE reports unemployment at 5.6% with a record 102.4 million employed, as officials and analysts cite high interest rates and localized US tariffs as factors shaping the Central Bank’s assessment.