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“Brazil can achieve full employment, but it needs good jobs,” Buchman says.

“Brazil can achieve full employment, but it needs good jobs,” Buchman says.

The IBGE president cited figures on formal employment in the private sector and some statistics on informal employment in the country

Montage (from left to right): Luiz Inacio Lula da Silva (President of the Republic), Fernando Haddad (Minister of Finance) and Marcio Bushmann (President of IBGE)

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247 – The president of the Brazilian Institute of Geography and Statistics (IBGE), Márcio Buschmann, said on Monday (1) that if it “maintains the same economic dynamism” as in 2023, “the country could reach 2026 with an occupation” almost full workforce. But, in the economist’s estimation, “the question that arises is the quality of the profession generated in the country.” He continued: “This is because in the past three years, wage employment with a formal contract in the private sector has accumulated by 16.4%, while informal employment has increased by a cumulative percentage.” It was 20.3% in the same time period.

“After Covid, the Brazilian economy regained its level of activity again at a rate of 3.6% per year on average. As a result, employment accumulated a growth of 19.6% between 2021 and 2023, which made it possible to reduce the total number of unemployed workers by 35.4%, and if the country maintains the same Economic dynamism, the country could reach 2026 with almost full employment of the labor force, which is a very positive asset, comparable to the reality of the world of work observed in 2014, 12 years later.”

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According to the person responsible for managing the institute, “the average income of working people recorded a loss of 5.2% between 2021 and 2023.” “The average monthly income of the employed, for example, in 2023 was equivalent to 33.4% of the monthly GDP per employed person, while in 2020 it was equivalent to 42.5%. In sum, the 21.4% decrease in the relationship between the average ​Income of number of workers employed and GDP per employed person in Brazil. If we look at the country's most dynamic production chain, responsible for the success of primary exports, average income in 2023 would have been equivalent to only 75.1% of average monthly income For all working Brazilians.”

Brazil's unemployment rate in the moving quarter ending November (7.5%), representing a decrease of 0.2 percentage points, compared to the previous quarter (June to August 2023). This was the lowest level since 2015, according to statistics from the National Household Sample Survey (Pnad Contínua), published by the Brazilian Institute of Geography and Statistics (IBGE).

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The figures also showed an increase in Brazilian income in the quarter. Average income rose 2.3% in the quarter, reaching R$3,034, the highest level since 2020, IBGE reported.