PNAD (National Household Survey)
Data release: 07/29/2022
In June, the unemployment rate went from 9.8% to 9.3%, in line with the market expectations. The occupation rate fell from 10.6% to 9.9% YoY, highlighting the construction (11.18%) and Lodging and Food (23.07%), that are still feeling the effects of reopening. The habitual earnings shrank 5.1% YoY, while the mass habitual earnings rose 4.4% YoY.
CAGED (Employment and Unemployment Registration)
Data release: 07/28/2022
In June, CAGED balance surprised us positively once more, with 277,944 new jobs, ahead of the expectation of 240,000. Once more, services sector has contributed to the strong balance, along with agriculture. Although it creates less jobs, agriculture has had the second consecutive positive balance.
View: employment has showed itself strong, still pushed by the economic reopening. Because of this, it has sustained a strong level of activity, mainly during 1H 2022. Throughout the year, the market might remain positive, stabilizing during the next few months.
