Brazil's Geography and Statistics Institute (IBGE) reported Friday (July 11) that the total employed persons in industry dropped 0.7% in May compared to April. The rate has had its second consecutive fall, having shrunk 0.4% from March to April. Year-to-date, the decrease was 2.2%, and the annualized growth rate for the past 12 months was -1.7%.

Compared to May 2013, there's an even larger gap – -2.6%, with decreases reported for 13 out of the 14 states surveyed by IBGE, most markedly in São Paulo (-3.7%), Rio Grande do Sul (-3.8%), Paraná (-4.0%) and Minas Gerais (-2.1%).

Considering the 18 surveyed industrial sectors, 15 have been reported with lower employment rates in May 2014 compared to the same period last year. The sharpest decreases were seen in metal products (-7.4%), footwear and leather (-7.9%), transport (-4.3%), and electronic and communications equipment (- 6.1%).