The unemployment rate in Brazil was stable at 11.1% in the first quarter of 2022, reported this Friday (29) the IBGE (Brazilian Institute of Geography and Statistics).
In the three immediately preceding months (fourth quarter of 2021), the indicator was also at 11.1%.
The new result came down financial market forecasts. Analysts consulted by the Bloomberg agency had expected a rate of 11.4% between January and March.
The number of unemployed was 11.9 million in the first quarter of 2022, according to the IBGE. This contingent was 12 million in the fourth quarter of 2021.
The population employed with some work was estimated at 95.3 million, falling 0.5% compared to the previous quarter, which means 472 thousand fewer people in the labor market.
According to the coordinator of Work and Income at IBGE, Adriana Beringuy, the stability of the unemployment rate is explained by the fact that there was no growth in the search for work in the quarter.
The scenario is different from that presented in the other quarters ended in March, when, due to the seasonality effect, there was an increase in the demand for work.
“If we look at unemployment in retrospect, through the historical series of the survey, we can see that, in the first quarter, this population usually increases due to the shutdowns that occurred at the beginning of the year. The quarter ended in March differed from these patterns”, he says. The unemployment rate is the lowest for a quarter ending in March since 2016, when it was also 11.1%.
The data are part of the Continuous Pnad (Continuous National Household Sample Survey).
Pnad involves both the formal and informal labor market. That is, they are evaluated from jobs with a formal contract and CNPJ to the popular odd jobs.
According to official statistics, the unemployed population gathers those without work and continues to look for new vacancies. Those who do not have a job and are not looking for an opportunity do not join the unemployed group.
The job market is trying to recover in Brazil from the impact generated by the pandemic. According to Pnad, the number of unemployed reached 15 million at the beginning of 2021, as a result of the health crisis.
With the lifting of restrictions and the reopening of the economy, there was a process of returning to work, and unemployment began to decline over the past year.
The reopening of vacancies, however, has been marked by a sequence of declines in the average income from work in real terms.
Soaring inflation, informal return to the market and creation of jobs with lower wages are explanations for lean income.
According to economists, the most consistent recovery in employment and income depends on the growth of economic activity as a whole.
The point is that the estimates indicate a low performance for GDP (Gross Domestic Product) in 2022, under the impact of persistent inflation and high interest rates.
The financial market forecasts a slight increase of 0.65% for this year’s GDP, according to the Focus bulletin, released by the BC (Central Bank).
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