The frustrating behavior of the labor market

BRAZIL ECONOMICS - Report 20 Aug 2018 by Affonso Pastore, Cristina Pinotti, Marcelo Gazzano and Caio Carbone

Employment growth is fundamental to accelerate a cyclical recovery, but unfortunately this is not happening in Brazil. The unemployment rate has only fallen by 0.7 percentage point since the end of the recession, from 13.0% to 12.3%. And more careful analysis of the job market’s behavior reveals the improvement is even more timid than indicated by the dip in the jobless rate. The reflections appear clearly in the perceptions of consumers about the labor market, acting to reduce the stimulus to consumption.

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