Get to Know the Package to Stimulate Job Creation in Brazil, Launched Today by Bolsonaro

It Is Expected That The Program Will Contemplate Three Million Young People In Their First Job And The Employment Contracts Will Last For Two Years.

The Green Yellow Program To Stimulate Job Creation In Brazil Was Launched This Monday At 5 PM By President Bolsonaro. The Package Implemented Through Provisional Measure (MP) Will Be For Young People Aged Between 18 And 29 Years And People Over 55 Years Of Low Income, With Salaries Of Up To 1.5 Minimum Wage. Learn About The Differences Between Temporary, Intermittent, And Part-Time Employment Contracts In Brazil.

It Is Expected That The Program Will Contemplate Three Million Young People In Their First Job And The Employment Contracts Will Last For Two Years, To Be Signed Starting In January 2020, With Hiring Allowed Until The End Of 2021.

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The Advantage For Employers Is The Reduction Of Labor Charges. According To Economist José Pastore, The Package Of Measures Will Result In A 50% Reduction In Payroll Costs.

The Only Charges That Will Remain Are The Contribution Of The FGTS, Reduced From 8% To 2%, And The Accident Insurance (SAT). All Other Charges, Such As Contributions To Social Security, System S, And Education Salary, Will Be Eliminated; In Addition, The FGTS Fine For Dismissals Without Just Cause Will Also Drop From 40% To 20%.

According To The Project, Companies Will Not Be Able To Replace Current Workers With Others That Have A Lower Cost. They Can Only Hire Under The New Modality Employees Who Exceed The Existing Amount When The MP Was Sent To Congress.

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To Remedy The Loss Of Revenue From Payroll Tax Exemptions, Bolsonaro Intends To Use The Resources That Will Be Saved From Scrutinizing INSS Benefits, Expected To Reach R$ 9.8 Billion This Year. For Next Year, It Is Anticipated That The Reduction In Spending Will Reach About R$ 20 Billion.

The Program Will Be Accompanied By Other Labor Measures, Such As The Reduction Of Bureaucracy In Agreements Between Companies And Employees On Issues Like Overtime, Extra Hours, And Judicial Agreements.

The Goal Is To Totally Free Employers From Negotiations With Unions Regarding Overtime, For Example. Currently, Companies Can Only Individually Negotiate Overtime Bank With A Duration Of Up To Six Months.

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For The Economist, The Employment Program Is Expected To Have Greater Adoption By Medium-Sized Companies. They Are Generally More Cautious During Economic Recovery, Preferring To Work With Informal Workers.

With The Program, These Employees Can Be Formalized, Keeping In Mind That One Of The Objectives Is To Benefit The Most Vulnerable Workers, Comments Pastore.