10/17/2008 15h02
São Paulo industry opens 11 thousand jobs in September, says Fiesp
Folha de São Paulo - 10/17/2008
The employment level of the São Paulo transformation industry advanced 0.48% in September in comparison with the previous month, in the data without seasonal adjustment, according to Fiesp (Federation of the Industries of the State of São Paulo). Last month, 11 thousand jobs were created, affirms the entity. In the year's total, the employment level is 7.65% higher than in the same period of 2007, with 167 thousand new jobs. Considering the data with seasonal adjustment, which eliminates specific characteristics of each period, last month's high in employment was 0.25%. From the 21 sectors that are included in the survey, 13 had a positive performance last month, 4 fired more employees than those that were hired, and 4 were stable. According to Paulo Francini, director of the Depecon (Department of Surveys and Economic Studies) of Fiesp, the employment data are still far from reflecting an economic slowdown that would be caused by the world financial crisis. "Employment is not an indicator of the crisis, it is consequence", he affirms. "What is first going to show the effect (of the crisis) is the IAL (Indicator of Activity Level). There is an average delay of four months between the former and the latter."
