(Adds more details on data)
BRASILIA, April 27 (Reuters) – Brazil created nearly double the expected number of formal jobs in March, showed Labor Ministry figures on Thursday, but the outlook for the year remains one of deceleration.
The ministry reported that 195,171 formal jobs were created in March, significantly surpassing the 100,000 expected in a Reuters poll.
This figure is also the highest recorded during the period since the government began its new series in 2020.
However, due to the economic slowdown and higher borrowing costs, the Brazilian job market is expected to slow down this year after a strong performance in 2022.
In March, four out of five activity groups showed positive results, with the services sector again standing out with a net addition of 122,323 positions.
The average monthly salary for new jobs created dropped 1.51% from the previous month to 1,961 reais ($392).
The total number of formally registered workers in Brazil increased by 0.46% from February to 42.97 million. The figure does not include nearly 40 million undocumented workers who are not formally employed.