Brazil's economy created a net 72,960 formal jobs in May, data from the Labor Ministry showed on Tuesday, below the 115,000 expected by economists in a Reuters poll.

  • The net figure accounts for 2,207,303 jobs created and 2,134,343 lost during the period, the ministry said.

  • Job creation was the slowest for any month so far this year and marked the weakest May performance since 2020.

  • From January to May, a net of 767,326 formal jobs were created in Brazil, a decline of about 28% year-over-year.