Brasil Unemployment to Remain High for a Long Period: CS
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
Nilson Teixeira (Banco de Investimentos Credit Suisse Brasil SA)
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UUID: 7947283
(Bloomberg) -- International experience suggests a low probability of the Brazilian unemployment rate declining to a level close to that of 2014 in the short term, according to a report signed by analysts led by Nilson Teixeira.
- Current recession in the country, one of the longest since 1980, has caused a highly negative impact on labor market conditions and the prospects of a merely gradual economic recovery suggest that recovery in the labor market will be even slower
- “Return of unemployment rate to level of before start of recession depends on pace of economic recovery”
- Report cites analysis of 123 episodes of recession in recent decades and concludes that “on average, the recovery in GDP growth and reversal of the unemployment rate to its level before the start of the decline in GDP occurred in seven and nine quarters, respectively”
- “Return of unemployment rate to level of before start of recession depends on pace of economic recovery”
- NOTE: Brazil unemployment rate, known as PNAD, dropped to 13% in June from 13.3% in May and compares to 11.3% in June 2016, according to data from National statistics agency IBGE
- July data will be released on Aug.31
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
Nilson Teixeira (Banco de Investimentos Credit Suisse Brasil SA)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283