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Wages in circulation in the economy grows R$ 31.353 billion in 1 year

The mass of wages in circulation in the economy increased by BRL 31.353 billion in the period of one year, to BRL 272.998 billion, an increase of 13.0% in the quarter ended in November 2022 compared to the quarter ended in November 2021.

Data are from the Continuous National Household Sample Survey (Continuous PNAD) by the Brazilian Institute of Geography and Statistics (IBGE).

In comparison with the quarter ended in August, the mass of real income rose 3.8% in the quarter ended in November, with R$ 10.084 billion more.

The average income of employed workers had a real increase of 3.0% in comparison with the quarter up to August, R$ 81 more, to R$ 2,787.

In relation to the quarter ended in November last year, the average real income of all employed workers rose 7.1%, R$ 186 more.

The growth in average real earnings is related to the lull in inflation registered in recent months, which provides real gains, but also to the improvement in the composition of occupation. The generation of formal jobs in the private sector and an increase in hiring in the public sector tend to raise average earnings.

At the same time, the number of workers working informally has decreased, recalled Adriana Beringuy, IBGE’s Work and Income coordinator.

Nominal income, that is, before discounting inflation in the period, grew 2.7% in the quarter ended in November compared to the quarter ended in August, R$ 74 more. In comparison with the quarter ended in November 2021, there was a 14% increase in average nominal income, R$ 343 more.

“Income spent 2021 registering significant declines. From 2022 onwards, there was a slightly greater reaction,” recalled Beringuy.

Source: CNN Brasil

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