Monday, September 28, 2026

NEXO MARKETS

what moves your portfolio, without the noise

Trending
← back to the Market Map
Macro & EconomiesMacro

Labor market

Brazil's employment indicators — Caged (formal payrolls, Labor Ministry), Pnad (IBGE) and earnings — gauging activity and household income.

9articles
16material mentions
7connections
07
SectorBrazilian banks4 shared articles ↗OrganizationCaixa Econômica Federal3 shared articles ↗OrganizationCorreios2 shared articles ↗OrganizationBanco do Brasil2 shared articles ↗MacroInflation1 shared article ↗MacroYield Curve1 shared article ↗MacroSelic rate1 shared article ↗

Last 90 days

What sources are saying

July's Caged marked the inflection: 58,568 formal jobs, the worst July since 2020 and half the roughly 114,000 consensus, knocking short rates down the next session. With IPCA-15 deflation the same week, the labor market now reinforces — rather than blocks — Selic-cut bets.

Updated September 25, 2026 · 9 verified articles

Market transmission

Why it matters

Strong employment sustains consumption, credit and services inflation, delaying Selic cuts; weak employment brings easing forward and lowers short rates — Caged is the first monthly signal in that chain.

Explanatory mechanism, not a forecast or recommendation.

Articles in chronological order

09
MACROBrazil

Labor court rules the Correios strike is not abusive, but orders workers back on September 25 and to make up the hours

The Superior Labor Court ruled on September 24, by majority, that the strike by Correios employees, which began on September 10, is not abusive, but ordered a return to work on September 25. Days lost will not be deducted from pay, but the hours must be made up. During the stoppage, the court had required 80% of staff to keep working; unions said they would meet to decide on the return.

4 sourcesSep 24, 2026
CORPORATEBrazil

Caixa employees reject the bank third offer and the strike that began on September 10 continues

In virtual assemblies held on September 21, more than 90% of the union bases of Caixa employees rejected the bank third offer and kept the nationwide strike that began on September 10, for an indefinite period. The offer raised from 6.5% to 9% of payroll, from 2027, the cap on the bank contribution to the Saúde Caixa health plan, the main item of the specific agreement negotiated since June. The strike command is due to announce next steps; there is no date for a new round.

5 sourcesSep 21, 2026
CORPORATEBrazil

Labor court suspends the Correios wage dispute trial over documents filed at the last minute and the strike continues until a new session on Thursday

The president of the Superior Labor Court (TST), Justice Vieira de Mello Filho, suspended on September 21 the trial of the Correios collective dispute because the state company filed reports and videos on Friday and Saturday, leaving no time for worker representatives to respond, which would breach due process. The session was rescheduled for Thursday, September 24, at 3:30 pm, according to CNN Brasil. The nationwide strike, started on September 10 by the Findect and Fentect federations, continues indefinitely; the main sticking point is the health plan, of which the company wants to stop being the sponsor.

3 sourcesSep 21, 2026
EMPRESASBrazil

Caixa employees reject the final offer and keep the national strike, while Banco do Brasil signs a deal through 2028 and ends its stoppage

In assemblies closed on the night of September 11, Caixa employees rejected the bank's final collective-agreement offer, with 68% voting against in the São Paulo base, and keep the national strike begun on September 10; the sticking point is the Saúde Caixa plan, with contributions of 2.3% to 4.1% of salary, charges per dependant and a co-payment cap rising from R$ 3,600 to R$ 4,800, and the bank is expected to withdraw the offer and seek arbitration in the labour court. At Banco do Brasil most bases approved the offer, the agreement was signed on September 11 valid through 2028, with profit-sharing brought forward to September 16, R$ 360 million to the Cassi health plan and 35-day paternity leave, and the stoppage continues in only 18 bases.

5 sourcesSep 12, 2026
EMPRESASBrazil

Caixa staff start an open-ended national strike and Banco do Brasil sees partial stoppages in five regions

Caixa employees began an open-ended national strike on September 10 after more than 90% of union bases rejected the bank-specific collective agreement, with the Saúde Caixa health plan at the centre of the dispute; at Banco do Brasil the stoppage is partial, in Brasília, Rio de Janeiro, Porto Alegre, Pernambuco and Florianópolis, where bases rejected the convention. The general bank-workers convention, with INPC plus 0.6% real increase, was signed by Fenaban on September 9.

5 sourcesSep 10, 2026
MACROBrazil

IBGE: nearly 2 million worked through digital platforms in 2025, with longer hours and lower pay per hour

IBGE reported on September 4 that about 1.8 million to 2 million people worked through digital service platforms such as transport and delivery in Brazil in 2025, per Poder360, InfoMoney, Valor and Estadão. These workers put in longer hours and earn less per hour than other employed people, per Correio Braziliense and BBC Brasil; only a third contribute to social security, per Valor.

9 sourcesSep 04, 2026
MACROBrazil

Supreme Court limits free legal aid in labor suits to those earning up to R$ 5,000

The Supreme Court ruled on September 3 that free legal aid in labor courts requires proof of income and is limited to those earning up to R$ 5,000, ending the labor high court's practice of accepting hardship declarations without proof, per Agência Brasil and Money Times. The case was brought by Consif, the financial system confederation; rapporteur Edson Fachin and Justice Cármen Lúcia dissented.

2 sourcesSep 03, 2026