The unemployment rate (6.2%) retreated 0.5 percentage points (p.p.) in the quarter ended in October 2024 against the quarter from May to July 2024 (6.8%) and dropped 1.4 p.p. over the same moving quarter in 2023 (7.6%). It was the lowest unemployment rate in the time series of the Continuous PNAD, started in 2012.

The unemployed population (6.8 million) retreated in both comparisons: -8.0% (less 591 thousand persons) in the quarter and -17.2% (less 1.4 million persons) in the year. It was the smallest contingent of unemployed persons since the quarter ended in December 2014.

The employed population (103.6 million) was a new record in the time series, growing in both comparisons: 1.5% (more 1.6 million more persons) in the quarter and 3.4% (more 3.4 million more persons) in the year. The employment- population ratio - percentage of employed persons in the population at working age - was 58.7%, a record in the time series, growing in both comparisons: 0.8 p.p. in the quarter (57.9%) and 1.5 p.p. (57.2%) in the year.

The composite underutilization rate (15.4%) retreated in both comparisons> -0.8 p.p. in the quarter and -2.1 p.p. in the year. It was the lowest rate for a quarter ended in October since 2014 (14.8%).  The underutilized population (17.8 million persons) was the smallest one since the moving quarter ended in May 2015 (17.7 million), retreating in both comparisons: -4.6% (less 862 thousand) in the quarter and -10.8% (less 2.2 million) in the year.

The time-related underemployed population (5.1 million persons) did not record any significant change in the quarter and dropped 5.8% (less 314 thousand persons) in the year. The population out of the workforce (66.1 million) retreated 0.9% (-623 thousand persons) in 0.8% (less 523 thousand persons) in the year.

The discouraged population (3.0 million) reached its smallest contingent since the quarter ended in April 2016 (2.9 million) and retreated in both comparisons: -5.5% (less 176 thousand persons) in the quarter and -11.7% (less 403 thousand persons) in the year. The percentage of discouraged persons (2.7%) retreated 0.2 p.p. in the quarter and 0.4 p.p. in the year.

The number of those employed in the private sector (53.4 million) was a record, with rises of 1.9% (more 995 thousand persons) in the quarter and of 5.0% (more 2.5 million persons) in the year. The number of those employed with a formal contract in the private sector – excluding domestic workers – was also a record: 39.0 million. It rose 1.2% (more 479 thousand persons) in the quarter and 3.7% (more 1.4 million persons) in the year. The number of persons employed without a formal contract in the private sector (14.4 million) was also a record, with increases of 3.7% (517 thousand more persons) in the quarter and of 8.4% (1.1 million more persons) in the year.

The number of workers in the public sector (12.8 million) was a record, remaining stable in the quarter and growing 5.8% (699 thousand more persons) in the year.

The number of self-employed workers (25.7 million persons) remained stable in both comparisons. The number of domestic workers (6.0 million) increased 2.3% (more 134 thousand persons) in the quarter and remained stable in the year.
The informality rate was 38.9% of the employed population (or 40.3 million informal workers) against 38.7% (or 39.4 million) in the quarter ended in July and 39.1% (or 39.2 million) in the same quarter of 2023.

Usual real earnings from all jobs (R$3,255) remained stable in the quarter and grew 3.9% in the year. The average usual real wage bill (R$332.6 billion) grew 2.4% (more R$7.7 billion) in the quarter and 7.7% (more R$23.6 billion) in the year.

Unemployment rate - Brazil -2012/2024

The workforce (employed and unemployed persons) reached 110.4 million persons in the quarter from August to October 2024, a new record in the time series, growing in both comparisons: 0.9% (more 989 thousand persons) against the quarter from April to June 2024 and 1.8% (more 2.0 million persons) against the same moving quarter of 2023.

The analysis of employment by group of activity against the quarter from May to July 2024 increased in three groups: General industry (2.9% or more 381 thousand persons), Construction (2.4% or more 183 thousand persons) and Other services (3.4% or more 187 thousand persons). The other groups did not change significantly.

Seven groups grew against the quarter from August to October 2023: Industry (5.0%, or more 629 thousand persons, Construction (5.1%, or more 373 thousand persons), Trade, repair of motor vehicles and motorcycles (3.3%, or more 623 thousand persons), Transportation, storage and mailing (5.7%, or more 316 thousand persons), Information, communication and financial, real estate, professional and administrative activities (4.5%, or more 563 thousand persons), Public administration, defense, social security, education, human health and social services (4.4%, or more 802 thousand persons), and Other services (7.2%, or more 382 thousand persons). Agriculture, livestock, forestry, fishery and aquaculture reduced (-5.3% or less 446 thousand persons) and two groups remained stable: Domestic services and Lodging and food.

Composite underutilization rate – Quarters from August to October – Brazil - 2012 to 2024 (%)

According to the groups of activity, real monthly average earnings usually received in the main job grew in two categories against the quarter from May to July 2024: Transportation, storage and mailing (4.9% or more R$146) and Information, communication and financial, real estate, professional and administrative activities (4.2% or more R$188). None of the other groups recorded significant changes.

Three categories increased against the quarter from August to October 2023: Trade, repair of motor vehicles and motorcycles (4.0% or more R$102), Transportation, storage and mailing (6.6% or more R$195) and Domestic services (3.3% or more R$38). The other groups did not change significantly.

The analysis of the real monthly average earnings by employment type in relation to the moving quarter from May to July 2024 showed an increase in the category of Person employed with a formal contract (1.5% or more R$46) and stability in the other categories.

Compared with the quarter from August to October 2023, five categories increased: Persons employed with a formal contract  (2.9%, or more R$86), Persons employed without a formal contract (7.8%, or more R$163), Domestic workers (3.3%, or more R$38), Persons employed in the public sector (including statutory officials and the military) (3.0%, or more R$141) and Sel-employed workers (5.4%, or more R$136).