Itaú BBA - Unemployment recedes to 12.3% in July

Macro Brazil

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Unemployment recedes to 12.3% in July

agosto 30, 2018

Employment advanced 0.3% qoq after consecutive declines in recent months

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 12.3% in the quarter ended in July from 12.4% in the quarter ended in June.

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

The real wage bill expanded 0.7% qoq/sa.

Employment advanced 0.3% qoq after consecutive declines in recent months, still signaling that underlying economic growth is getting weaker.


 

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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