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Leading employment indicator records drop of 0.8 points in January, says FGV

The Leading Employment Indicator in Brazil dropped 0.8 points in January, starting 2023 with 73.9 points, according to data released this Tuesday by the Getulio Vargas Foundation (FGV).

The IAEmp, which anticipates the direction of the labor market in Brazil, had risen in December, but fell again, remaining at historically low levels after a series of negative results at the end of 2022, said the FGV.

“Expectations of an economic slowdown in 2023 also do not leave much hope that the indicator will once again signal a positive trajectory. With the pandemic increasingly in the past, economic activity will dictate the pace of recovery in the job market,” said Rodolpho Tobler, economist at FGV Ibre.

In January, four of the seven components of the IAEmp contributed to the decline in the indicator, with emphasis on the indicators that measure the Current Situation and Trend in Services Businesses, which equally contributed with -0.6 points, and the Expected Employment indicator of Services, which contributed -0.4 points, said the FGV.

(By Eduardo Simoes)

Source: CNN Brasil

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