The unemployment rate, corresponding to the three-month period ending in July, decreased by 0,5 percentage points compared to the period ending in April, when it stood at 5,8%, and by 0,3 points compared to the same period in 2015. According to the National Continuous Household Sample Survey (PNAD Continua), the number of unemployed fell to 5.8 million, a reduction of 503,000 people compared to the previous quarter and 299,000 compared to a year ago.

In contrast, the employed population grew by one million people in three months, equivalent to a one percent increase, while year-on-year it added 899,000 workers, representing a 0,9% increase.

Likewise, the employment rate, which measures the proportion of employed people within the working-age population, rose to 58,9%, compared to 58,4% in the quarter ending in April.

The labor force, which includes both employed and unemployed individuals, also reached a record high, with 109.2 million people, 499,000 more than in the previous quarter and 600,000 higher than a year earlier.

Another positive indicator was the composite underutilization rate, which fell to 13%, a reduction of 0,8 percentage points in the quarter and 1,1 percentage points over 12 months. The number of underutilized people decreased to 14.9 million.

The formal labor market also reached a record high, with 39.4 million private-sector employees with employment contracts, excluding domestic workers.

Including both contracted and uncontracted private-sector employees, the total reached 53.2 million. However, informality accounted for 37,5% of the employed population, equivalent to 38.8 million workers.

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