More Signals of Falling Industrial Production

BRAZIL ECONOMICS - Report 14 Jul 2014 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

Although the unemployment rate remains at a historically low level, the job market is clearly weakening. Net hiring has been virtually stagnant and the jobless rate only has been holding steady because of the decline in the participation rate, which annuls the growth of the labor force (economically active population). This leads to the paradox of growing real wages (due to the low unemployment rate) alongside stability in the level of employment (due to weak economic growth).

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