Unemployment reaches 8.2 million people, which corresponds to a reduction of 882 thousand Brazilians looking for jobs in 1 year
A Brazil’s unemployment rate was 7.5% in the quarter ended in April (February, March and April). This was the lowest level of unemployment for the period since 2014, when it was 7.2%. O IBGE (Brazilian Institute of Geography and Statistics) released the result this Wednesday (May 29, 2024). Here’s the complete of the report (PDF – 6 MB).
The unemployment rate was stable compared to the previous quarter, from November to January (7.6%). Compared to the same quarter in 2023, it dropped 1 percentage point. It was 8.5%.
Unemployment affects 8.2 million people, according to IBGE. The number had no statistically significant change in relation to the previous quarter. In 1 year, the number of people looking for vacancies in the job market fell by 9.7%, which corresponds to 882 thousand Brazilians.
The data is part of the Pnad Contínua (Continuous National Household Sample Survey), which publishes labor market data monthly.
UNDERUSE
Brazil’s underutilization rate was 17.4% in the quarter ended in April. There was no significant change compared to the quarter ended in January (17.6%). It fell 1 percentage point compared to the quarter ended in April 2023, when it was 18.4%.
Anyone who is unemployed, works less than they could or has not looked for a job despite being available to work is considered underutilized.
In the quarter ended in April, Brazil had 20.1 million underutilized people. The number fell by 843 thousand in 1 year.
Within the underutilized group there are the discouraged, who are those who have not looked for a job because they do not believe they will get it.
The discouraged population was 3.5 million. It fell 8.3% in 1 year, which corresponds to 314 thousand fewer people in this situation.
JOB MARKET
Brazil had 100.8 million people employed in the quarter ended in April. The number had no statistically significant change in relation to the quarter from November to January. In 1 year, it grew 2.8%, which corresponds to 2.8 million more people.
The occupancy level was 57.3% in the quarter. It is the percentage of employed people in the population of working age. The percentage did not change in relation to the previous quarter. In 1 year, it rose 1.1 percentage points.
The number of employees with a formal employment contract in the private sector (not including domestic workers) was 38.19 million. This was the highest level in the Pnad Contínua historical series, which began in 2012. It rose 3.8% (or more than 1.4 million) in 1 year.
The number of employees without a signed work permit was also a record high. There were 13.6 million in the quarter ended in April, an increase of 813 thousand in 1 year.
PERFORMANCE
The usual real income from all jobs was R$3,151. The value was stable in the quarter ended in April compared to the previous quarter (November, December and January). In 1 year, it grew 4.7%.
The usual real income totaled R$313.1 billion. This value is a record for the historical series, which began in 2012. It rose 7.9% in 1 year, which corresponds to R$23 billion.
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