The strategist at RB Investimentos, Gustavo Cruz, assesses that there is a possibility that the unemployment rate will drop to single digits this year.
According to data from Pnad Contínua, the index stood at 10.5% in Brazil in the quarter ended in April – the lowest since 2015.
“Most economists will revise their 2022 unemployment forecast downwards. If it is married to the GDP, which should surprise a little higher this week, the feeling is of better revisions for the indicators”, analyzed Gustavo, in an interview with CNN Radio.
According to him, the service sector – which represents more than 60% of GDP – was underestimated, but “the recovery is coming, with crowded events, malls reviewing projections upwards, it is the locomotive of Brazil.”
The strategist considers, however, that many people left informality, but that wages also fell. “People outside the job market accepted a lower salary to come back.”
“Maybe this is the big warning, about the quality of the jobs created”, he added.
In the assessment of Gustavo Cruz, the demand for employees can provide a stimulus for wages to stop falling.
Source: CNN Brasil
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