Brazil creates fewer formal jobs than expected in July

BRASILIA, Aug 27 (Reuters) - Brazil's economy created a net 129,775 formal jobs in July, data from the Labor Ministry showed on Wednesday, the lowest since March and slightly below the 135,577 expected by economists in a Reuters poll.

The data accounts for 2,251,440 jobs opened and 2,121,665 closed during the period, the ministry said.

The net result fell short of the 191,373 net jobs created in the same month last year, and marked the lowest for any July since 2020, adjusted data showed.

From January to July, 1,347,807 net jobs were created in Brazil, down from 1,503,467 a year earlier, according to adjusted data.