Labor Market: Contradictory Signals

BRAZIL ECONOMICS - Report 22 Aug 2013 by Marcelo Gazzano, Cristina Pinotti and Affonso Pastore
In July the unemployment rate was 5.6%, higher than the 5.4% in the previous month. However, in the seasonally adjusted series the rate remained stable at 5.6%. After correction for variations in the participation rate (the portion of the working age population that is working or looking for work), the jobless rate fell from 5.3% in June to 5.0% in July (Graph 1). The participation rate rose very slightly, from 57.2% to 57.3%. Besides this, growth of the occupied population accelerated in July, recording expansion of 0.4% and 1.5% over the previous 12 months (Graph 2). These results could s...

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