The unemployment rate (7.5%) changed -0.2 percentage points (pp) in the quarter ended in November 2023 over the quarter between June and August 2023 (7.8%) and dropped 0.5 pp against the same moving quarter in 2022 (8.1%). This was the lowest unemployment rate since the quarter ended in February 2015 (7.5%).

The unemployed population (8.2 million) remained stable in the quarter and retreated 6.2% (less 539 thousand persons) in the year. That was the smallest contingent since the moving quarter ended in April 2015 (8.15 million).

The employed population (100.5 million), a new record in the time series, grew 0.9% in the quarter (more 853 thousand persons) and 0.8% (more 815 thousand persons) in the year. The employment-population ratio - percentage of employed persons in the population at working age - was 57.4%, changing 0.4 pp in the quarterly comparison (57.0%) and remaining stable in the year.

The composite underutilization rate (17.4%) changed -0.3 pp in the quarter (17.6%) and fell 1.6 pp against the quarter ended in November 2022 (18.9%). That was the lowest rate since the quarter ended in June 2015 (17.3%). The underutilized population (20.0 million persons) did not significantly change in the quarter and retreated 9.0% in the year.

The time-related underemployed population (5.5 million) increased 3.6% (191 thousand persons) in the quarter and dropped 5.5% (317 thousand) in the year.

The population out of workforce (66.5 million persons) remained stable over the previous quarter and grew 1.9% (more 1.2 million) in the annual comparison.

The discouraged population (3.4 million) fell 5.5% over the previous quarter (less 196 thousand persons) and 16.9% (less 687 thousand persons) in the year. It was the smallest contingent since the quarter ended in August 2016 (3.3 million). The percentage of discouraged workers in the workforce or discouraged population (3.0%) changed -0.2 pp in the quarter and  0.6 pp in the year. It was the lowest rate since the quarter ended in May 2016 (2.9%).

The number of persons employed with a formal contract in the private sector (except domestic workers) reached 37.7 million persons, an increase of 1.4% (more 515 thousand persons) in the quarter and of 2.5% (more 935 thousand persons) in the year. It was the second largest contingent since the beginning of the time series of the survey in 2012, only behind June 2014 (37.8 million). The number of persons employed without a formal contract in the private sector (13.4 million) was the highest one in the time series, though it remained stable in the quarter and in the year.

The number of self-employed workers (25.6 million persons) also remained stable over the previous quarter and over the same period a year ago, as well a the number of domestic workers (5.9 million persons).

Other categories that stood stable in both comparisons were those of  employers (4.2 million persons) and workers in the public sector (12.2 million persons).

The informality rate was 39.2% of the employed population (or 39.4 million informal workers) against 39.1% in the previous quarter and 38.9% in the same quarter of 2022.

Usual real earnings (R$3,034) grew 2.3% in the quarter and 3.8% in the year.

The usual real wage bill (R$300.2 billion) hit a new record figure in the time series, with an increase of 3.2% over the previous quarter and of 4.8% in the annual comparison.

Unemployment Rate - Brazil - 2012/2023

In the moving quarter from September to November 2023, the workforce (employed and unemployed persons) was estimated at 108.7 million persons, growing 0.6% (more 645 thousand persons) against the quarter between June and August 2023 and remaining stable in the year.

According to the activity groups investigated by the survey, the number of employed persons over the previous moving quarter increased in the following groups: General industry (2.9% or more 369 thousand persons) and Construction (2.8% or more 199 thousand persons). The remaining groups did not record significant changes.

The following groups rose against the quarter from September to November 2022: Transportation, storage and mailing (4.3% or more 228 thousand persons), Lodging and food (4.0% or more 207 thousand persons), Information, communication, and financial, real estate, professional and administrative activities (4.0% or more 486 thousand persons) Public administration, defense, social security, education, human health and social services (2.3% or more 403 thousand persons). The group of Agriculture, livestock, forestry, fishing and aquaculture reduced (-4.3% or less 365 thousand persons).

Concerning usual real average earnings (R$3,034) against the previous moving quarter, the following activity groups increased: Industry (5.6% or more R$161) and Public administration, defense, social security, education, human health and social services (2.6% or more R$108). The others remained stable.

The following groups rose against the same period last year: Industry (7.7% or more R$216), Trade, repair of motor vehicles and motorcycles (5.3% or more R$126), Lodging and food (6.1% or more R$113) and Public administration, defense, social security, education, human health and social services (3.5% or more R$144). The remaining groups did not record significant changes.

Among the employment types against the previous quarter, the following categories recorded increases: Workers with a formal contract (2.1% or more R$59) and Self-employed workers (3.6% or more R$86). The other categories remained stable.

The following categories rose in relation to the same quarter in 2022: Employees with a formal contract (2.9% or more R$80), Employees without a formal contract (7.1% or more R$138), Employees in the public sector (including statutory servants and the military) (2.9% or more R$126), Employers (9.8% or more R$691) and Self-employed workers (4.2% or more R$99).

Keywords: PNAD Contínua: taxa de desocupação é de 7, 5% e taxa de subutilização é de 17, 4% no trimestre encerrado em novembro