For the first time since March 2015, Brazil's economy has seen an uptick in job growth, a positive sign that the country is on the road to recovery from its two-year severe recession, Bloomberg reported. Last month, Brazil added over 35,600 jobs, with growth driven primarily by gains in the services, agriculture and manufacturing sectors.
"This news is important because 35,000 Brazilians have the chance to work and lead a dignified life," President Michel Temer said, according to the news source.
Up until February, the country experienced 22 consecutive months of job losses, with the unemployment rate climbing to 12.6 percent. Although economists said that it could take about another year for the jobless rate to steady again, last month's job creation is a step in the right direction and enough to signal government confidence.
"The rise shows that the measures adopted by the government over the last seven months are putting our country back on track," explained Labor Minister Ronaldo Nogueira, reported Bloomberg.
In addition to the jobs added, other positive economic news includes slowing inflation and a growing trade surplus.
According to Reuters, economists anticipate the country's economic recovery to begin over the next few months as interest rates are cut, with Temer projecting inflation to drop below the 4.5 percent target. The source noted that, of the jobs added in February, over 50,000 were created by service providers.