Itaú BBA - Gains in informal jobs push unemployment down

Macro Brazil

< Volver

Gains in informal jobs push unemployment down

octubre 30, 2018

No noticeable improvement in formal employment yet


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 11.9% in the quarter ended in September from 12.1% in the quarter ended in August.

Using our seasonal adjustment, unemployment dropped 0.2 p.p. to 12.0%, thanks to growing informal employment (non-registered jobs in the private sector and self-employment without a corporate tax ID).

The real wage bill expanded 0.8% qoq/sa, driven by higher employment, while real wages remained stable.
 

Artur Manoel Passos
Alexandre Gomes da Cunha


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



< Volver