According to the Secretariat of Economic Policy, services need to grow by 17% to reach pre-COVID levels

BRAZIL POLITICS - Report 10 Sep 2020 by Murillo de Aragão and Cristiano Noronha

The service sector, the main employer in the country, still needs to grow by 17% to reach pre-pandemic levels, according to a study published by the Secretariat of Economic Policy. According to the Secretariat, growth in the service sector has not been comparable to the other sectors.

The service sector is the largest employer in the country, responsible for 47% of formal jobs in the labor market. On the other hand, the Secretariat highlights data from the PMC (Monthly Survey of Commerce, from the IBGE) to show that there is a “V” shaped recovery in commerce, specifically in sales of certain goods in the country such as construction materials and appliances.

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