Itaú BBA - Still-high unemployment rate

Macro Brazil

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Still-high unemployment rate

mayo 31, 2019

Seasonally-adjusted unemployment declined 0.1 p.p. to 11.9%.

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

 

 Brazil’s nation-wide unemployment rate stood at 12.5% in the quarter ended in April from 12.9% one year earlier, according to the national household survey PNAD Contínua. The reading was in line with the median of market expectations (12.5%) and slightly higher than our call (12.4%). 

 Seasonally-adjusted unemployment declined 0.1 p.p. to 11.9%.

 The real wage bill expanded 2.8% yoy in the quarter ended in April. 

Luka Barbosa
Alexandre Gomes da Cunha


 

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



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