Brazil’s Antecedente Employment Indicator ended 2021 with a decline in December for the second straight month, at the lowest level in eight months, pointing to difficulties for the job market at the beginning of this year, FGV (Fundação Getulio Vargas) reported this Thursday. (6).
The IAEmp, which anticipates the direction of the job market in Brazil, dropped 1.2 points in December and reached 81.8 points, the lowest level since April (78.7).
“[O IAEmp] ends the year confirming the negative trend started in recent months. The slowdown in the economy at the end of 2021, observed in the main sectors, seems to be the main factor for this result since the pandemic, at this moment, seems to be under control”, said Rodolpho Tobler, economist at FGV Ibre, in a note.
Among the components of the IAEmp, the highlights were the drops of 7.0 points in the Current Situation of Industry Businesses indicator and of 3.0 points in the Trends in Services Businesses.
“For the first months of 2022, it is difficult to envision a very favorable scenario for the labor market, considering the fragile macroeconomic environment that should persist in the short term”, added Tobler.
The latest data from the IBGE showed that the unemployment rate in Brazil dropped to 12.1% in the quarter ended in October, the lowest level since February 2020.
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