(Corrects title to rate of 14.1%, not 14.4%)
By Camila Moreira
SAO PAULO (Reuters) – Brazil reached the end of the second quarter with a drop in the unemployment rate due to the increase in employment, but with 14.4 million people out of work and with the market still trying to recover from the recent crisis.
The Brazilian Institute of Geography and Statistics (IBGE) reported that the unemployment rate reached 14.1% in the quarter to June, from 14.6% in the three months to May.
The result of Pnad Contínua showed a decrease in relation to the rate of 14.7% seen in the first quarter, but it was still well above the 13.3% in the same period of 2020.
The median of forecasts in a Reuters survey was that the rate would be at 14.4% in the period.
With the job market still trying to recover from the crisis caused by Covid-19, the population is facing a spike in inflation and the consequent increase in interest rates.
In the three months up to June, there were 14.444 million unemployed in Brazil, which represents a drop of 2.4% compared to the first quarter, but an increase of 12.9% compared to the same period of the previous year.
In turn, the total number of employed persons increased 2.5% over the first three of the year and reached 87.791 million, and also rose 5.3% over the second quarter of 2020.
With this increase, the level of employment rose 1.2 percentage points, to 49.6%, but this still indicates that less than half of the population of working age is employed in the country.
“The growth of occupation took place in various forms of work. Until then, we had been noticing increases in self-employment and employment without a formal contract, but little movement in employment with a formal contract”, highlighted the research analyst, Adriana Beringuy.
But in the second quarter, the number of employees with a formal contract in the private sector increased by 618 thousand people in relation to the first three months of the year, reaching 30.189 million.
Even so, without a formal contract, there were 10.023 million workers in the second quarter, an increase of 3.4% over the first.
The IBGE also highlighted self-employed work in the period, which reached a record level of 24.839 million people, an increase of 4.2% compared to the previous quarter.
The increase in occupation in the second quarter was mainly due to activities related to accommodation and food (9.1%), construction (5.7%), domestic services (4.0%) and agriculture, livestock, forestry production , fishing and aquaculture (3.8%).
The survey also showed that underemployed workers due to insufficient hours worked – those who work fewer hours than they could work – reached a record 7.543 million people in the second quarter, an increase of 7.3% over the previous period.
In addition, the average real income of workers dropped 3.0% in relation to the first three months of the year, to 2,515 reais. In the annual comparison, there was a reduction of 6.6%.
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