Itaú BBA - Unemployment reaches 12.7% in May

Macro Brazil

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Unemployment reaches 12.7% in May

junio 29, 2018

Lower participation rate offsets decline in employment

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 12.7% in the quarter ended in May from 12.9% in the quarter ended in April.

Using our seasonal adjustment, unemployment was stable at 12.4%, as the decline in the participation rate offset falling employment.

The real wage bill shrank 0.4% qoq/sa.

The labor market continues to advance slowly, contributing to lower forecasts for GDP growth in 2018.
 

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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