Itaú BBA - Stable unemployment in November

Macro Brazil

< Back

Stable unemployment in November

December 28, 2018

Real wage bill expanded due to slightly higher employment

For the version with all charts and tables, please open the attached pdf file
 

According to the national household survey (PNAD Contínua - IBGE), Brazil’s nation-wide unemployment rate receded to 11.6% in the quarter ended in November from 11.7% in the quarter ended in October.

Using our seasonal adjustment, unemployment remained stable at 12.1%.

The real wage bill expanded 0.4% qoq/sa, driven by slightly higher employment, while real wages lost 0.2%.
 

Artur Manoel Passos
Alexandre Gomes da Cunha


 

For the version with all charts and tables, please open the attached pdf file
 



< Back