The unemployment rate (6.4%) in the quarter ended in September 2024 retreated 0.5 percentage points (pp) against the quarter from April to June 2024 (6.9%) and fell 1.3 pp. over the same moving quarter in 2023 (7.7%). This is the lowest unemployment of the Continuous PNAD time series started in 2012, only behind the quarter ended in December 2013 (6.3%).

The unemployed population (7.0 million) retreated in both comparisons: -7.2% (541 thousand less persons) in the quarter and -15.8% (1.3 million less persons) in the year. It was the smallest contingent of unemployed persons since the quarter ended in January 2015.

The employed population (103.0 million) was a new record in the time series started in 2012, growing in both comparisons: 1.2% (1.2 million more persons) in the quarter and 3.2% (3.2 million more persons) in the year. The employment-population ratio - percentage of employed persons in the population at working age - was 58.4%, growing in both comparisons: 0.6 pp against the previous moving quarter (57.8%) and 1.3 pp in the year. It was the highest employment-population ratio since the quarter ended in September 2012.

The composite underutilization rate (15.7%) retreated in both comparisons -0.8 pp in the quarter and -1.9 pp in the year. This is the lowest rate for a quarter ended in September since 2014.  The underutilized population (18.2 million persons) was the smallest one since the moving quarter ended in December 2015 (18.2 million), retreating in both comparisons: -4.4% (834 thousand less) in the quarter and -9.8% (2.0 million less) in the year.

The time-related underemployed population (5.1 million) did not significantly change in none of the comparisons. The population outside the workforce (66.4 million) dropped by 0.4% (-293 thousand) in the quarter and had no significant change in the year.

The discouraged population (3.1 million) reached its smallest contingent since the quarter ended in May 2016 (3.0 million) standing stable in the quarter and dropping 11.3% (397 thousand less persons) in the year. The percentage of discouraged workers (2.7%) was the lowest one since the quarter ended in March 2016, retreating 0.1 pp in the quarter and 0.4 pp in the year.

The number of employed persons in the private sector reached 53.3 million, a new record in the series that began in 2012, with increases of 2.2% (1.1 million more persons) in the quarter and 5.3% (2.7 million more persons) in the year. The number of employed persons with a formal contract in the private sector (excluding domestic workers) reached 39.0 million, another record. There was an increase of 1.5% (582 thousand more persons) in the quarter and 4.3% (1.6 million more persons) in the year. The number of employed persons without a formal contract in the private sector (14.3 million) was also a record, with increases of 3.9% (540 thousand more persons) in the quarter and 8.1% (1.1 million more persons) in the year.

The number of self-employed workers (25.4 million) remained stable in both comparisons, as well as the number of domestic workers (5.9 million) and of employers (4.3 million). The number of workers in the public sector (12.8 million) was a record, remaining stable in the quarter and growing 4.6% (568 thousand more persons) in the year.

The informality rate was 38.8% of the employed population (or 40.0 million informal workers) against 38.6% in the quarter ended in June and 39.1% in the same quarter of 2023.

Usual real earnings from all jobs (R$3,227) was stable in the quarter and grew 3.7% in the year. The average usual real wage bill (R$327.7 billion) held steady against the previous quarter and grew 7.2% (or R$22.0 billion) over the same quarter in the year.

Unemployment rate - Brazil -2012/2024

The workforce (employed and unemployed persons) in the quarter from July to September 2024 reached 110.0 million perons, growing in both comparisons: 0.6% (658 thousand more persons) compared to the quarter from April to June 2024 and 1.7% (1.9 million more persons) compared to the same moving quarter in 2023.

The analysis of employment by activity groups compared to the quarter from April to June 2024 showed an increase in two groups: General Industry (3.2%, or 418 thousand more persons) and Trade, repair of motor vehicles and motorcycles (1.5%, or 291 thousand more persons). The other groups did not show significant change.

Compared to the quarter from July to September 2023, there was an increase in the following groups: General Industry (5.2%, or 652 thousand more persons), Construction (3.9%, or 279 thousand more persons), Trade, repair of motor vehicles and motorcycles (3.2%, or 616 thousand more persons), Transportation, storage and mail (4.6%, or 250 thousand more persons), Information, Communication and Financial, Real Estate, Professional and Administrative Activities (5.1%, or 639 thousand more persons), Public administration, defense, social security, education, human health and social services (3.6%, or 642 thousand more persons) and Other services (8.4%, or 439 thousand more persons). There was a reduction in the Agriculture, livestock, forestry, fishing and aquaculture group (4.7%, or 393 thousand less persons).

Composite Labor Underutilization Rate – July to September quarters – Brazil – 2012 to 2024 (%)

The analysis of the average usual real monthly earnings from the main job, according to the activity groups, for the three-month period from July to September 2024, compared to the three-month period from April to June 2024, showed stability in almost all categories, except for Public administration, defense, social security, education, human health and social services, which fell by 2.9% (- R$130).

Compared to the same quarter of 2023, there was an increase in four categories: Industry (3.8%, or R$115 more), Construction (5.5%, or R$129 more), Trade, repair of motor vehicles and motorcycles (5.0%, or R$128 more) and Transportation, storage and mail (6.1%, or R$175 more). The other groups remained stable.

The analysis of the average real monthly earnings by employment type in relation to the moving quarter from April to June 2024 showed an increase for Employed persons with a formal employment contract (1.2%, or R$35 more). There was a reduction of 2.3% (or R$112 less) among Employed persons in the public sector (including statutory and military servants). The other categories showed stability.

Compared to the quarter from July to September 2023, there was an increase in the following categories: Employed persons with a formal contract (3.3%, or more than R$96), Employed persons without a formal contract (6.5%, or R$137 more) and Self-employed (4.8%, or R$121 more).