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Leading employment indicator at FGV rises to highest level in 9 months in August

BRASÍLIA (Reuters) – The Antecedent Employment Indicator (IAEmp) by FGV IBRE rose again in August, after a slight drop in the previous month, and reached the highest level in nine months, data released on Tuesday showed.

The IAEmp, which anticipates the direction of the labor market in Brazil, rose 1.2 points in August to 82.3 points, the highest level since November, when it reached 83.0 points.

In quarterly moving averages, the IAEmp advanced 0.5 point, to 81.8 points.

The data, according to FGV IBRE, indicate continued recovery in the labor market.

“Caution is still needed due to the low level that the indicator is at, but the signs for the coming months are positive”, said in a note the economist of the institution Rodolpho Tobler, noting that the pace of recovery until the end of the year will depend on the performance of the economy.

The highlights of August were the Business Trend and Current Status of Industry Business indicators, which contributed positively with 0.9 and 0.3 points. On the negative side, the main pressure came from the Forecast Employment indicator in Industry, which changed -0.3 point.

Data from the Brazilian Institute of Geography and Statistics (IBGE) pointed out last week that Brazil recorded a record number of employed people, with the unemployment rate falling in the quarter ended in July to the lowest level since the end of 2015, to 9, 1%.

Source: CNN Brasil

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