Brazil had an unemployment rate of 7.8% in the quarter ending in February, according to the IBGE

The rate of unemployment in Brazil it was 7.8% in the three months to February, the Brazilian Institute of Geography and Statistics (IBGE) reported on Thursday 28th.

The data represents growth of 0.3 percentage points in the quarter ending February 2024 compared to the quarter ending November 2023, and a decline of 0.7 percentage points compared to the quarter ending February 2023 (8.6%).

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The unemployed population (8.5 million) grew by 4.1% (332 thousand more people) in the quarter and decreased by 7.5% (689 thousand fewer people) in the year.

The employed population (100.250 million) did not undergo significant changes in the quarter and grew by 2.2% (2.1 million more people) over the year. The employment level (percentage of employed people compared to the working age population) stood at 57.1%, down by 0.3 pp compared to the previous rolling quarter (57.4%) and up by 0.7 pp in the annual comparison (56.4%).

The compound underutilization rate (17.8%) increased by 0.5 percentage points in the quarter and decreased by 1 percentage point in the year-over-year comparison. The underutilized population (20.6 million people) grew by 3.4% (or 675 thousand people) in the quarter and decreased by 4.5% (or 963 thousand fewer people) for the year.

The population underemployed due to insufficient hours worked (5.1 million) decreased by 6.9% in the quarterly comparison and did not record significant changes during the year.

The non-employed population grew by 0.4% in the quarterly comparison and did not undergo significant changes during the year.

The discouraged population (3.7 million) grew by 8.7% (293 thousand more people) compared to the previous rolling quarter and fell by 7.5% (299 thousand fewer people) over the year. The percentage of discouraged or discouraged people in the workforce (3.3%) increased 0.3 pp over the quarter and decreased 0.3 pp over the year.

The number of employees with work permits in the private sector (excluding domestic workers) reached 37.995 million, a new record in the PNAD Continuous series, although it did not change significantly over the quarter. During the year this contingent grew by 3.2% (plus 1.2 million). The number of unregistered employees in the private sector (13.3 million) did not undergo significant changes in the quarter and grew by 2.6% (331 thousand more people) over the year.

The number of self-employed workers (25.4 million people) remained stable in both comparisons, as did the number of domestic workers (5.9 million people) and employers (4.2 million people). The number of public sector employees (12.0 million) remained stable in the quarter and grew over the year by 2.4% (279 thousand more people).

The informality rate was 38.7% of the employed population (or 38.8 million informal workers) versus 39.2% in the previous rolling quarter and 38.9% in the same rolling quarter of 2023.

Real usual income from all jobs (R$3,110) grew by 1.1% in the quarter and 4.3% in the year.

The usual volume of real income (R$307.3 billion) reached a new record in the time series starting in 2012, although it did not change significantly in the quarter. This indicator grew by 6.7% (plus R$ 19.3 billion) in the annual comparison.

In the moving quarter from November to January 2024, the workforce (employed and unemployed) was estimated at 108.8 million people, without significant changes compared to the quarter ending in November 2023 and growing by 1.3% (but 1, 4 million people) in the year.

The employed population by activity groups, compared to the previous quarter of the move, increased only in Transport, warehousing and post (5.1%, or 285 thousand more people). Reductions were recorded in the following sectors: Agriculture, livestock, forestry production, fishing and aquaculture (3.7%, or less 308 thousand people) and Public administration, defense, social security, education, human health and social services (2.2% , or less 395 thousand people) ). The other eight groups did not present significant changes in this comparison.

Compared to the same rolling quarter in 2023, employment grew in: General Industry (3.1%, or more 393 thousand people), Transportation, Warehousing and Mail (7.7%, or more 415 thousand people), Information, Communication and finance, real estate, professional and administrative activities (6.5%, or more than 775 thousand people) and public administration, defense, social security, education, human health and social services (2.8%, or more than 479 thousand people). There was a reduction in the Agriculture, livestock, forestry production, fishing and aquaculture group (5.6%, or 472 thousand fewer people). The remaining five groups did not present significant changes in this comparison.

Regarding the average real usual income (R$ 3,110), compared to the previous quarter there was an increase in the average income in the following activity groups: Food and accommodation (4.4%, or more R$ 88) Public administration, defense, social security, education, human health and social services (2.3%, or more R$96) and domestic services (2.8%, or more R$32). The other groups did not show significant changes.

Compared to the same moving quarter in 2023, revenue increases occurred in: Industry (7.3%, or more R$ 209) Trade, automotive and motorcycle repair (3.9%, or more R$ 96) Transportation , warehousing and post (4.9%, or more R$137) Public administration, defense, social security, education, human health and social services (3.9%, or more R$166) and domestic services (2.4%, or more R$28). The other groups did not show significant changes.

Among professional positions, compared to the previous quarter, the following categories showed an increase: Domestic worker (2.8%, or more R$32) and Public sector employee (including statutory and military employees) (4.3%, or plus R$32) $197). The other categories did not show significant changes.

Comparison with the same rolling quarter of 2023 indicated an increase in the categories: Employee with formal employment contract (2.2%, or more R$62), Employee without formal employment contract (8.9%, or more R$178 ), Domestic worker (2.4%, or more R$28), public sector employees (including statutory and military employees) (5.2%, or more R$238) and self-employed workers (4.5%, or more R$107).