Itaú BBA - Unemployment falls to 12.4% in June

Macro Brazil

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Unemployment falls to 12.4% in June

July 31, 2018

Participation rate remains in a downward trend

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 12.4% in the quarter ended in June from 12.7% in the quarter ended in May.

Using our seasonal adjustment, unemployment dropped 0.1 p.p. to 12.3%, dragged by the decline in the participation rate.

The real wage bill expanded 1.5% qoq/sa.

Employment was stagnant on a quarterly basis and is slowing down in year-over-year terms, signaling that underlying economic growth continues to weaken.

 

Artur Manoel Passos
Alexandre Gomes da Cunha


 

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



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