Itaú BBA - Informal jobs prompt drop in unemployment

Macro Brazil

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Informal jobs prompt drop in unemployment

septiembre 28, 2018

The seasonally-adjusted unemployment rate fell 0.1 p.p. to 12.2% in the quarter ended in August

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 12.1% in the quarter ended in August from 12.3% in the quarter ended in July.

Using our seasonal adjustment, unemployment dropped 0.1 p.p. to 12.2%.

The real wage bill expanded 1.1% qoq/sa.

Employment advanced 0.7% on a quarterly basis, driven by growth in informal jobs.


 

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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