Continuous PNAD: unemployment rate is 6.8% and underutilization rate hits 16.2% in quarter ending in July
August 30, 2024 09h00 AM | Last Updated: August 31, 2024 01h27 PM
The unemployment rate (6.8%) of the quarter ending in July 2024 fell by 0.7 percentage points (p.p.) from the quarter February-April 2024 (7.5%) and by 1.1 p.p. from the same moving quarter in 2023 (7.9%). That was the lowest unemployment rate for a quarter ending in July since the beginning of the time series of Continuous PNAD, in 2012.
| Indicador/Period | May-Jun-Jul 2024 | Feb-Mar-Apr 2024 | May-Jun-Jul 2023 |
|---|---|---|---|
| Unemployment rata | 6.8% | 7.5% | 7.9% |
| Underutilization rate | 16.2% | 17.4% | 17.7% |
| Usual real earnings | R$ 3,206 | R$ 3,183 | R$ 3,058 |
| Change of usual earnings in relation to: | stable (0.7%) | 4.8% | |
The unemployed population (7.4 million) decreased in both comparisons: -9.5% (by 783 thousand persons) in the quarter and -12.8% (by 1.1 million persons) in the year. That was the smallest number of employed persons since the quarter ended January 2015.
The employed population (102.0 million) hit the new record of the time series that started in 2012, with increases in both comparisons: 1.2% (by 1.2 million persons) in the quarter and 2.7% (by 2.7 million persons) in the year. The employment population ratio (percentage of employed persons in the population at working age) hit 57.9%, with increases in both comparisons: 0.6 p.p. against the previous moving quarter (57.3%) and 1.1 p.p. in the year (56.9%).
That was the highest employment level in a quarter ending in July since 2014.
The compound underutilization rate (16.2%) fell in both comparisons: -1.2 p.p. in the quarter and -1.6 p.p. in the year. That was the lowest rate for a quarter ended July since 2014.
The underemployed population (18.7 million persons) was the lowest since the Moving quarter ending in December 2015 (18.6 million), with drops in two comparisons: -6.9% (-1.4 million) in the quarter and -7.8% (-1.6 million) in the year.
The time-related underemployed population (5.0 million) decreased by 4.1% (-212 thousand persons) in the quarter and remained stable in the annual comparison.
The population out of the labor force (66.7 million) was stable in both comparisons.
The discouraged population (3.2 million) reached the lowest total since the quarter ending in June 2016 (3.2 million), with a drop of 7.0% (- 242 thousand persons) in the quarter and 12.2% (-447 thousand persons) in the year.
The percentage of discouraged persons in the workforce or discouraged population (2.9%) decreased by 0.2 p.p. in the month and 0.4 p.p. in the year.
The number of workers in the private sector reached 52.5 million, a new record in the time series that started in 2012, with increases of 1.4% (by 731 thousand persons) in the quarter and 4.5% (2.2 million persons) in the year. The number of workers with a formal contract in the private sector (except domestic workers) reached 38.5 million, another record. There was an increase of 0.9% (353 thousand persons) in the quarter and of 4.2% (1.5 million persons) in the year. The number of workers without a formal contract in the private sector (13.9 million) was also a record, with increases of 2.8% (378 thousand persons) in the quarter and 5.2% (689 thousand persons) in the year.
The number of self-employed workers (25.4 million) remained stable in both comparisons, as the number of domestic workers (5.8 million) and of employers (4.2 million). The number of workers in the public sector (12.7 million) hit a record, with an increase of 3.5% (424 thousand) in the quarter and 3.6% (436 thousand persons) in the year.
The employment informality rate hit 38.7% of the employed population (or 39.4 million informal workers) against 38.7 % in the quarter ended April and 39.2 % in the same quarter of 2023.
The usual real earnings from all the activities (R$ 3,206) was stable in the quarter and increased by 4.8% in the year. The usual real wagebill (R$ 322.4 billion) fell by 1.9% (R$ 6.0 billion) in the quarter and by 7.9% (R$ 27.5 billion) in the year.
Labor force (employed and unemployed persons), in the quarter May-Jul 2024, was estimated at 109.5 million persons, a new record in the time series since 2012. This population increased in both comparisons: 0.4% (444 thousand persons) against the quarter ending in 2024 and 1.5% (1.6 million persons) in the year.
The analysis of employment by groups of activity against the quarter February-April 2024 recorded increases in the groups: Trade, repair of motor vehicles and motorcycles (1.9%, or 368 thousand persons) and Public administration, defense, social security, education, human health and social services (3.2%, or 584 thousand persons). The other groups of activities did not record any significant changes.
Against the quarter April-June 2023 there was an increase in the following groups: Construction (4.7%, or 338 thousand persons), Trade, repair of motor vehicles and motorcycles (2.6%, or 482 thousand persons), Transportation, storage and mailing (6.6%, or 352 thousand persons), Information, Communication and Financial, Real Estate, Professional and Administrative Activities (5.6%, or 682 thousand persons), Public administration, defense, social security, education, human health and social services (3.6%, or 654 thousand persons) and Other services (5.4%, or 284 thousand persons). There was a decrease in the group of Agriculture, livestock, forestry, fishing and aquaculture (4.4%, or 365 thousand persons).
Compound underutilization rate – Quarters - May-July – Brazil – 2012 to 2024 (%)
The analysis of average usual real earnings hfrom the main job, by groups of activity, of the moving quarter May-July 2024, against the quarter February-April 2024, recorded an increase in the category Construction (2.9%, or R$ 68). The other groups did not record significant changes.
Against the same quarter in 2023, there was an increase in the categories: Industry (6.7%, or R$ 196), Trade, repair of motor vehicles and motorcycles (4.7%, or R$ 120) Transportation, storage and mailing (5.8%, or R$ 163), Public administration, defense, social security, education, human health and social services (5.4%, or R$ 229) and Other services (8.2%, or R$ 193). No significant changes were recorded in the other groups.
As for employment status there was stability regarding average usual real earnings against the quarter February-April 2024.
Against the quarter May-July 2023, there was an increase in the categories: Workers with a formal contract (3.5%, or R$ 100), Workers without a formal contract (6.9%, or R$ 142), Worker in the public sector (including civil servants and the military) (4.1%, or R$ 192) and Self-employed workers (6.9%, or R$ 168).
