BRASILIA (Reuters) - Brazil’s economy added a net 260,823 payroll jobs in February, the Labor Ministry said on Monday, more than double what market analysts expected in another sign of strength in the country’s labor market.
Economists had expected the economy to add 110,000 positions last month, according to the median forecast of 6 analysts in a Reuters poll. The highest estimate was for the creation of 130,000 jobs that month.
Last year the Brazilian economy added a net 730,687 payroll jobs without seasonal adjustments, the smallest number since 2003.
The pace of job creation has slowed in Brazil after three years of meager growth, but unemployment remains around record lows as more Brazilians opt to dedicate time to education and training.
Reporting by Luciana Otoni; Writing by Alonso Soto; editing by Andrew Hay