The unemployment rate in Brazil fell to 8.1% in the quarter to November 2022, indicated this Thursday (19) the IBGE (Brazilian Institute of Geography and Statistics).
The result was in line with financial market estimates. Analysts consulted by the Bloomberg agency projected a rate of 8.1%.
This is the lowest mark for the quarter up to November since 2014. At the time, the rate was 6.6%, according to the Pnad Contínua (Continuous National Household Sample Survey).
In comparison with different quarters of the comparable historical series, the new rate is the lowest since the beginning of 2015. The indicator was at 7.5% until February of that year.
Unemployment stood at 8.9% in the quarter up to August 2022, the most recent period in the same Pnad historical series. In the quarter ended in October, which is part of another Pnad series, the indicator was already at 8.3%.
The number of unemployed, in turn, fell to 8.7 million up to November. It is the lowest number for this quarter since 2014 (6.6 million).
The contingent totaled 9.7 million by August 2022 and 9 million by October last year.
The unemployed population, according to official statistics, is made up of people aged 14 or over who are out of work and are looking for new jobs. Those who do not have a job and are not looking for opportunities do not enter this number.
PNAD portrays both the formal and informal labor market. That is, it ranges from jobs with a formal contract and CNPJ to the popular odd jobs.
After the damage caused by the start of the pandemic, in 2020, the generation of vacancies benefited from vaccination against Covid-19. Immunization allowed the reopening of business and the return of movement of people.
At first, the recovery of work was accompanied by a drop in average income, which collapsed with the rise in inflation. Recently, income has shown signs of improvement with the return of formal employment and the truce of part of prices.
According to economists, the recovery of the labor market tends to lose speed in 2023. The explanation is associated with the effect of high interest rates, which usually cool down economic activity and, consequently, the opening of vacancies.
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