The unemployment rate (6.1%) in the quarter ended November 2024 dropped 0.5 percentage points (p.p.) from the quarter June-August 2024 (6.6%) and fell by 1.4 p.p. against the same moving quarter in 2023 (7.5%). It is the lowest unemployment rate in the time series of Continuous PNAD, since 2012. 

The unemployed population (6.8 million) fell in both comparisons: -7.0% (a decrease of 510 thousand persons) in the quarter and -17.5% (1.4 million persons) in the year. That was the smallest number of unemployed persons since the quarter ended December 2014.

Once again, the employed population (103.9 million) hit a record in the time series, and increased in both comparisons: 1.4% (by 1.4 million persons) in the quarter and 3.4% (by 3.4 million persons) in the year. The employment population ratio (percentage of employed persons in the population at working age) rose to 58.8%, a record in the time series, and increased in both comparisons: 0.7 p.p. in the quarter (58.1%) and 1.4 p.p. (57.4%) in the year.

The compound underutilization rate (15.2%) fell in both comparisons: -0.7 p.p. in the quarter and -2.1 p.p. in the year. It was the lowest rate since the quarter ended December 2014 (14.9%).

The underutilized population (17.8 million) was the lowest since the moving quarter ended May 2015 (17.7 million), with drops in both comparisons: -3.9% (725 thousand) in the quarter and -11.0% (2.2 million) a year.

The time-related underemployed population (5.1 million) did not change significantly in the quarter and dropped by 6.6% (by 363 thousand persons) in the year. The population out of the workforce (66.0 million) decreased by 0.8% (-510 thousand persons) in the quarter and 0.8% (504 thousand persons) in the year.

The discouraged population (3.0 million) was the lowest since the quarter ended April 2016 (2.9 million), being stable in the quarter with a drop of 10.3% (349 thousand persons) in the year. The percentage of discouraged persons (2.7%) was stable in the quarter and dropped 0.3 p.p in the year. 

Again, the number of workers in the private sector (53.5 million) hit a record figure, with increases of 1.3% (661 thousand persons) in the quarter and of 4.6% (2.4 million persons) in the year. The number of workers with a formal contract in the private sector (except domestic workers) also hit a record: 39.1 million. There was an increase of 1.3% (496 thousand persons) in the quarter and of 3.7% (1.4 million persons more) in the year. The number of workers without a formal contract in the private sector (14.4 million) was stable in the quarter and increased 7.1% (959 thousand persons more) in the year.

The number of employed persons in the public sector (12.8 million) hit a record, being stable in the quarter and with an increase of 5.6% (685 thousand persons) in the year.

The number of self-employed workers (25.9 million) increased by 1.8% (467 thousand persons) in the quarter and was stable in the year. The number of domestic workers (6.0 million) increased by 3.2% (185 thousand persons) in the quarter and was stable in the year.

The informality rate was 38.7% of the employed population (or 40.3 million informal workers) against 38.8 % (or 39.8 million) in the quarter ended August and 39.2 % (or 39.4 million) in the same quarter as in 2023.

Usual real earnings from all the activities (R$ 3,285) was stable in the quarter increased by 3.4% in the year. The usual real wagebill (R$ 332.7 billion) hit a record, with an increase of 2.1% (R$ 7.1 billion) in the quarter and 7.2% (R$ 22.5 billion) in the year.

Unemployment rate - Brazil - 2012/2024

Workforce (employed and unemployed persons) hit a record figure in the quarter Sep-Nov 2024, and reached 110.7 million persons, with increase in both comparions: 0.8% (876 thousand persons) against the quarter Jun-Aug 2024 and 1.8% (2.0 million persons) against the same moving quarter in 2023.

The analysis of employment by groups of activity versus the quarter Jun - Aug 2024 showed an increase in four groups: General Industry (2.4%, or 309 thousand persons), Construction (3.6%, or 269 thousand persons), Public administration, defense, social security, education, human health and social services (1.2%, or more 215 thousand persons) and domestic services (3.0%, or 174 thousand persons). There was a drop in the group Agriculture, livestock, forestry, fishing anf aquaculture (-2.0%, or 164 thousand persons). the other groups did not record significant changes.

Against the quarter Sep-Nov 2023, seven groups increased: General Industry (3.6%, or 466 thousand persons), Construction (6.0%, or 440 thousand persons), Trade, repair of motor vehicles and motorcycles (3.6%, or 692 thousand persons), Transportation, storage and mailing (5.8%, or 322 thousand persons), Information, Communication and Financial, Real Estate, Professional and Administrative Activities (4.4%, or 548 thousand persons), Public administration, defense, social security, education, human health and social services (4.4%, or 790 thousand persons) and Other services (5.0%, or 270 thousand persons). There was a decrease in Agriculture, livestock, forestry, fishing and aquaculture (-4.4%, or 358 thousand persons) and stability in the other groups.

Compound underutilization rate - Quarters - August-October - Brazil – 2012 - 2024 (%)

The average usual real monthly earnings from the main job, by groups of activity, of the moving quarter September-November 2024, against the quarter June - August 2024, recorded increases in one category: Transportation, storage and mailing (4.7%, or R$ 141 more). The other groups did not record significant changes.

Against the quarter September-November 2023, three categories recorded increases: Trade, repair of motos vehicles and motorcycles (3.9%, or R$ 102) Transportation, storage and mailing (7.8%, or R$ 229) and Domestic services (3.6%, or R$ 43). the other groups did not record significant change.

The analysis of average usual real earnings by employment status in the moving quarter September - November 2024, from June-August 2024, shows increase in the category Worker with a formal employment contract (1.4%, or R$ 41). The other categories did not record significant changes.  

The comparison with the quarter September-November 2023 indicated an increase in five categories: Workers with a formal employment contract (2.7%, or R$ 80), Workers without a formal employment contract (6.0%, or R$ 129), Domestic worker (3.6%, or R$ 43), Workers in the public sector (including statutory and civil servants) (2.7%, or R$ 129) and Self-employed workers (3.8%, or R$ 98).