‘We are doing miracle to hold the economy working,’ says Luiz Marinho

Brazil reached a significant milestone in April 2025, registering the creation of over 250 thousand Formal, according to data released by the General Register of Employees and Unemployed (CAGED). The Ministry of Labor announced that they were generated marking the best performance for the month in the historical series of Caged and exceeding market expectations. The Under Secretary of Statistics and Occupational Studies, Paula Montagner, stressed that the positive balance is partly due to the expansion of the rail and construction sectors. She mentioned that growth in these areas was already expected, driven by hiring through public funds such as FGTS and the construction of 1.2 million new houses.

The rail transportation sector also showed significant growth, supported by investments in the Growth Acceleration Program (PAC). In accumulated of the year, the generation of jobs with portfolio registration totals more than 922 thousand vacancies, less than the estimated analysts, which provided for 1 million new posts. In comparison, in the same period of 2024, the net opening was 965,818 vacancies. The Minister of Labor, Luiz Marinho, took advantage of the disclosure of Caged data to criticize the By maintaining high interest rates in the country, stating that this requires additional government effort to keep the economy in operation.

Marinho stressed that the government is performing an “almost miracle” to support the economy and create new jobs despite high interest rates. The basic interest rate, Selic, is currently at 14.75%, and the Central Bank forecast is that it remains at a high level for a prolonged period. “I think, again, it is a serious problem. We are doing almost a miracle to hold the economy working, creating and generating new jobs. In fact, interest is excessively high,” said Marinho.

*With information from Danúbia Braga

*Report produced with the aid of AI