Itaú BBA - Seasonally adjusted unemployment remains stable at 11.5% in February

Macro Brazil

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Seasonally adjusted unemployment remains stable at 11.5% in February

marzo 31, 2020

Equal growth in employment and workforce prevents a decline in unemployment


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

 

• The unemployment rate reached 11.6% in February, matching market expectations and our call. Seasonally adjusted unemployment remained stable at 11.5%.

• The seasonally adjusted underemployment rate also remained stable at 23.5%.

• The real wage bill expanded 1.9% vs. February 2019.

 

Luka Machado Barbosa
Matheus Felipe Fuck


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



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