Unemployment drops to 12.1%, but still reaches 12.9 million Brazilians

According to the National Household Sample Survey (PNAD), released this Tuesday morning (28) by IBGE (Brazilian Institute of Geography and Statistics), the The unemployment rate dropped to 12.1% in the quarter ended in October. Altogether, the country has 12.9 million unemployed people in the country.

The percentage is 1.6 percentage points below the rate for the quarter ended in July, when it was 13.7%. If compared to the same period in 2020, the decrease was 2.5 percentage points, when the unemployment rate was 14.6%.

The so-called disheartened population, that which stopped looking for a job, reached 5.1 million people, a drop of 3.8% compared to the previous quarter and 11.9% compared to the same period in 2020.

The employed population reaches 94 million, growth of 3.6%, or 3.3 million people more than the previous quarter, being still 10.2% higher – or 8.7 million people more – in comparison to the same quarter of 2020.

According to Pnad, the underutilization rate dropped 2.1 percentage points from the May to July 2021 quarter, reaching 25.7%. The drop was 3.8 percentage points compared to the same quarter in 2020, when it was 29.6%.

Brazil still has 38.2 million informal workers, or 40.7% of the employed population is in informality, a slight decrease compared to the 40.2% registered in the previous quarter and an increase compared to the same period in 2020, when the rate was 38.4%.

The number of employees with a formal contract in the private sector was 33.9 million people, increasing 4.1%, or 1.3 million more people, compared to the previous quarter and 8.1% – 2.6 more millions of people – compared to 2020.

The number of employees without a formal contract in the private sector also grew. There are 12 million people or 9.5% more than in the previous quarter.

The number of self-employed workers was 25.6 million, growth of 2.6% in the monthly comparison and 15.8% (3.5 million people) in the annual comparison.

(in update)

Reference: CNN Brasil

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