The leading employment indicator reached its highest level in a year and a half in April, FGV indicates

Brazil’s main employment indicator rose in April and reached its highest level in a year and a half, showing a positive outlook for the labor market, according to data released on Monday by Fundação Getulio Vargas (FGV).

The IAEmp index, which anticipates the direction of the labor market in Brazil, increased by 0.7 points in April, reaching 80.2 points, the highest level since September 2022 (83.8 points).

“The improvement in the forecasts of the Brazilian economy for 2024 could influence the decisions of entrepreneurs and suggest a positive scenario for the labor market in the first half of the year,” explains Rodolpho Tobler, economist at FGV Ibre, in a note.

“Caution is still required due to the low level of the indicator, which is returning to the 2022 level, and the recent increase in uncertainty, which could be an obstacle to the continued recovery of the indicator,” he added.

The IAEmp components show that four of the seven components contributed to the April increase. The salient points were the performance of companies in the sector, which contributed 0.9 points, and the indicator of expected employment in services, with 0.5 points.

Source: Terra

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