Leading indicator falls in March but still indicates hiring in Brazil in coming months, says FGV
SAO PAULO (Reuters) - The Advance Employment Indicator (IAEmp) retreated in March but still ended the first quarter at a high level and pointing to hiring in the coming months, according to ...
SAO PAULO (Reuters) - The Background Employment Indicator (IAEmp) retreated in March but still ended the first quarter at a high level and hiring in the coming months, according to data released on Tuesday by the Getulio Vargas Foundation (FGV). ).The IAEmp, which anticipates labor market trends in Brazil, fell 1.9 points to 107.7 points in March, returning the previous month's high, but maintained a 0.2 point upward trend in the quarterly moving average. ."The index is at a very high level reflecting strong confidence about the recovery of the economy and, thus, a stronger hiring over the coming months," said FGV / Ibre economist Fernando de Holanda Barbosa Filho. .The result of the IAEmp in March was mainly influenced by the 10.2 point drop in the index that measures the current business situation of the Manufacturing Industry, according to FGV.Also in March, the Coincident Employment Indicator (ICD), which captures households' perceptions of the labor market, fell 0.9 p...
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