Brazil has added more jobs in the agricultural sector, even as steep US tariffs on coffee, beef and sugar exports took effect last month, data showed Tuesday.
Latin America鈥檚 largest economy, with a population of 213 million, has more people working than ever and wages are growing, according to the IBGE statistics agency.
鈥楳ore than one million Brazilians left unemployment behind in one year. Brazil is moving forward with more jobs and more dignity for its people,鈥� Planning and Budget Minister Simone Tebet wrote on X.
Brazil was hit with some of the highest US tariffs in the world鈥攏otably affecting exports of coffee, beef, and sugar鈥攚hich came into effect on August 6.
The agricultural sector nevertheless added 330,000 new jobs in the rolling quarter ending in August鈥攎ore than any other area of the economy. The tariffs have led to an 18.5-percent drop in exports to the United States in August compared to the previous year, according to official data.
However, according to a Capital Economics analysis this month, the tariffs 鈥榮houldn鈥檛 have a major impact鈥� on Brazil鈥檚 economy.
鈥楿S-Brazil trade is low and exporters should be able to redirect most goods鈥攖here are early signs of higher soybeans shipments to China,鈥� the London-based consultancy said.
Unemployment stood at 5.6 percent from June through August, the same figure recorded from May to July.
This number is the lowest since IBGE began using its current calculation method in 2012.
Around a million more Brazilians secured jobs compared to the same period last year, when unemployment stood at 6.6 percent.
Wages were up 3.3 percent year-on-year.