Labor Market: Regional Disparities

BRAZIL ECONOMICS - Report 02 Dec 2019 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

The economic recovery continues being led by household consumption, stimulated by the low interest rate and growth of new lending. Nevertheless, the key variable for better performance is the behavior of the labor market, which has been improving gradually. Although still high, in October the number of discouraged and underemployed workers receded for the fourth straight month, causing the unemployment rate including these two contingents to fall from 22.3% in June to 21.9% in October, a month when average real habitual income rose sharply, with the 12-month growth of labor income rising by 2.2%, in comparison with 1.5% growth in September. However, there are important regional differences, as will be discussed in this report.

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