Brazil creates fewer formal jobs than expected in August

BRASILIA, Sept 29 (Reuters) - Brazil's economy created 147,358 net formal jobs in August, data from the Labor Ministry showed on Monday, below the 160,000 expected by economists in a Reuters poll.

The data accounts for 2,239,895 jobs opened and 2,092,537 closed during the period, the ministry said.

It was the lowest net formal job creation in Brazil for any August since 2019, adjusted data showed.

Earlier on Monday, Brazil's central bank chief Gabriel Galipolo said the Brazilian job market had demonstrated "great resilience."

Galipolo said the monetary authority continues to see signs of resilience in the country's economy, despite indications of an overall slowdown. The bank earlier this month held interest rates at a near two-decade high of 15%.

From January to August, 1,501,930 net jobs were created in Brazil, down from 1,742,664 in the same period last year, according to adjusted data released by the Labor Ministry.