By Brazil Stock Guide – Magazine Luiza SA (MGLU3.SA) said on Monday it has joined the federal program Acredita no Primeiro Passo, which aims to integrate beneficiaries of social assistance into Brazil’s formal labor market.
The program focuses on people registered in the country’s Cadastro Único (CadÚnico), with priority for women, young workers, people with disabilities, Black communities, and traditional populations such as riverside residents and quilombolas. Magazine Luiza, which already creates more than 1,000 job openings monthly, will now direct part of those positions to candidates from the initiative. The announcement was reported by IstoÉ Dinheiro.
The partnership was signed in São Paulo in the presence of Chairwoman Luiza Helena Trajano, Chief Executive Officer Frederico Trajano, and Social Development Minister Wellington Dias.
Frederico Trajano underscored the program’s role: “The program is a very effective solution to include the most vulnerable segment of the population in the formal labor market and reduce their dependence on government social programs.” He added: “These programs are very important, but they should be temporary and have as an exit door the individual capacity to generate income through work.”
Along with offering jobs, the federal initiative also invests in professional training for high-demand occupations. Government data show that between 2022 and 2024, the program helped boost income by 10.7% among Brazil’s poorest half and lifted 14.8 million people above the poverty line.
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