New investment is anticipated across many sectors of employment according to Brazilian employers who may be responding to indications the business environment is improving. Payrolls are predicted to grow in six of the eight industry sectors with the largest projected growth in agriculture, fishing and mining. The services and manufacturing sectors are also anticipated to grow in the remaining months of 2017.
New labor laws were passed earlier this year overhauling labor laws dating back as far as the 1940s. The new legislation gives more leeway to collective bargaining and reduces the scope for legal action in labor disputes. Remote work will become regulated, and companies will get more flexibility to allocate work hours and vacation time.
Latin America’s largest economy is anticipating even more investment in labor engagements in the market despite union opposition to bills reforming labor laws which cite less job security for workers. However, lower risk and more flexibility for organizations seeking to expand operations into Latin America or grow existing programs are crucial following the decrease in foreign investment related to political instability in the market at the beginning of the year.