The unemployment rate (6.9%) in the quarter ended in June 2024 retreated one percentage points (p.p.) against the quarter from January to March 2024 (7.9%) and fell 1.1 p.p. over the same moving quarter in 2023 (8.0%). This was the lowest unemployment rate for a quarter ended in June since 2014 (6.9%).

The unemployed population (7.5 million) retreated in both comparisons: -12.5% (less 1.1 million persons) in the quarter and -12.8% (less 1.1 million persons) in the year. It was the smallest contingent of unemployed persons since the quarter ended in February 2015.

The employed population (101.8 million) was a new record in the time series started in 2012, growing in both comparisons: 1.6% (more 1.6 million persons) in the quarter and 3.0% (more 2.9 million persons) in the year. The employment- population ratio - percentage of employed persons in the population at working age - was 57.8%, growing in both comparions: 0.8 p.p. against the previous moving quarter (57.0%) and 1.2 p.p. in the year (56.6%). It was the highest employment- population ratio since the quarter ended in January 2015.

The composite underutilization rate (16.4%) retreated in both comparisons> -1.5 p.p. in the quarter and -1.4 p.p. in the year. This is the lowest rate since the quarter ended in February 2015 (16.1%).   The underutilized population (19.0 million persons) was the smallest one since the moving quarter ended in December 2015 (18.6 million), retreating in both comparions: -8.2% (less 1.7 million) in the quarter and -6.6% (less 1.3 million) in the year.

The time-related unemployed population (5.1 million) remained stable in both comparions, as well as the population out of the workforce (66.7 million).

The discouraged population (3.3 million) reached its smallest contingent since the quarter ended in June 2016 (3.2 million) and retreated in both comparisons: -9.6% (less 345 thousand persons) in the quarter and -11.5% (less 422 thousand persons) in the year. The percentage of discouraged workers in the workforce or discouraged population (2.9%) was the lowest one since the quarter ended in May 2016 (2.9%), retreating 0.3 p.p. in the month and 0.4 p.p. in the year.

The number of persons employed in the private sector with a formal contract (excluding domestic workers) reached 38.380 million, a new record in the time series of the Continuous PNAD, started in 2012. It rose 1.0% (more 397 thousand persons) in the quarter and 4.4% (more 1.6 million persons) in the year. The number of persons employed in the private sector without a formal contract (13.797 million) was also a new record in the time series, with rises of 3.1% (more 410 thousand persons) in the quarter and of 5.2% (more 688 thousand persons) in the year.

The number of self-employed workers (25.5 million persons) remained stable in both comparisons, as well as the number of domestic workers (5.8 million persons). The number of employers (4.3 million persons) increased 4.0% in the quarter (more 165 thousand persons) and remained stable in the year. The number of persons employed in the public sector (12.7 million) grew 5.3% (more 641 thousand persons) in the quarter and 3.5% (more 429 thousand persons) in the year.

The informality rate was 38.6% of the employed population (or 39.3 million informal workers) against 38.9% in the quarter ended in March and 39.2% in the same quarter of 2023.

Usual real earnings from all jobs (R$3,214) grew in both comparisons: 1.8% in the quarter and 5.8% in the year. The usual real wage bill (R$322.6 billion) hit a new record, growing in both comparions: 3.5% (more R$10.8 billion) in the quarterly comparion and 9.2% (more R$27.3 billion) in the year.

Unemployment rate - Brazil -2012/2024

The workforce – employed and unemployed persons – was estimated at 109.4 million persons in the quarter between April and June 2024. That population grew in both comparions: 0.5% (more 546 thousand persons) over the quarter ended in March 2024 and 1.7% (more 1.8 million persons) over the same moving quarter last year.

In relation to the quarter fro January to March 2024, the analysis of employment by activity group recorded an increase in the groups: Trade, repair of motor vehicles and motorcycles (1.5% or more 283 thousand persons), Information, communication and Financial, real estate, professional and administrative activities (1.9% or more 247 thousand persons), Public administration, defense, socila security, education, human health and social services (4.8% or more 852 thousand persons) and Other services (2.6% or more 142 thousand persons). The other groups did not change significantly.

Compared with the quarter from April to June 2023, the follwing groups increased: Construction (4.9% or more 352 thousand persons), Trade, repair of motor vehicles and motorcycles (2.4% or more 459 thousand persons), Transportation, storage and mailing (7.5% or more 401 thousand persons), Information, communication and financial, real estate, professional and administrative actitivites (7.5% or more 901 thousand persons), Public administration, defense, socila security, education, human health and social services (3.8% or more 685 thousand persons) and Other services (5.6% or more 295 thousand persons). The group of Agriculture, livestock, forestry, fishery and acquaculture reduced (4.1% or less 343 thousand persons).

Composite underutilization rate - Quarter from April to June - Brazil - 2012 to 2024 (%)

In the moving quarter from April to June 2024 over the quarter from January to March 2024, the analysis of the real monthly average earnings usually received in the main job according to the  activity groups showed an increase in the category of Public administration, defense, socila security, education, human health and social services (2.6% or more R$114). The other groups did not change significantly.

Compared with the quarter between April and June 2023, the following categories increased: Industry (8.2% or more R$236), Trade, repair of motor vehicles and motorcycles (5.0% or more
R$125), Transportation, storage and mailing (6.8%, or more R$192), Lodging and food (6.4%, or more R$128) and Public administration, defense, socila security, education, human health and social services (7.1%, or more R$298). The other groups did not change significantly.

On the other hand, the analysis of the same rela monthly average earnings in relation to the quarter from January to March 2024 remained stable in all the job types.

Compared with the quarter between April and June 2023, the following categories increased: Persons employed with a formal contract (4.0%, or more R$113), Persons employed without a formal contract (8.0%, or more R$162) Persons employed in the public sector (including statutory officials and the military) (6.7%, or more R$307) and Self-employed persons (7.0%, or more R$171).