FX.co ★ Brazil’s Job Creation Cools in May as CAGED Net Payroll Gains Ease

Brazil’s formal labor market expanded at a slower pace in May 2026, as net payroll job creation measured by the CAGED registry eased to 72.96K positions. The latest figure, updated on 30 June 2026, marks a moderation from April 2026, when the indicator had reached 85.89K jobs.

The month‑on‑month deceleration suggests that, while Brazil continues to generate formal employment, the momentum seen earlier in the year has softened. Analysts and market participants will be watching upcoming releases closely to determine whether May’s weaker reading signals the start of a broader cooling trend in the labor market or a temporary pause after stronger gains in April.