The Leading Indicator of Employment in Brazil advanced 0.8 point in February, to 74.7 points, offsetting the fall that had been registered in January, showed data released this Tuesday by the Getulio Vargas Foundation (FGV).
The IAEmp, which anticipates the direction of the labor market in Brazil, had dropped by 0.8 points in the previous month. Despite the recovery of lost ground, the index remains at historically low levels, according to the FGV.
“Expectations of the year’s economic slowdown have impacted companies’ hiring momentum, preventing the IAEmp from gaining momentum again in 2023”, explained Anna Carolina Gouveia, economist at FGV IBRE.
“The reversal towards a positive and sustainable trajectory in the coming months will depend on the improvement of the macroeconomic scenario and on the positive evolution of sectoral activities”.
Source: CNN Brasil
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