Unemployment rate drops to 5.4% in October, the lowest level in IBGE’s historical series

The unemployment rate in Brazil stood at 5.4% in the moving quarter ending in October, according to the Continuous National Household Sample Survey (Pnad Contínua), released on Friday (28) by the Brazilian Institute of Geography and Statistics (IBGE). It was the lowest level in the historical series, which started in 2012. The rate declined in both comparisons: it dropped by 0.2 percentage points compared to the previous moving quarter (from 5.6% to 5.4%) and decreased by 0.7 percentage points compared to the same period in 2024, when it was 6.2%. Furthermore, the number of unemployed people (5.9 million) was the lowest recorded in the historical series. The population without work decreased by 3.4% in the quarter (207,000 fewer people) and fell by 11.8% compared to the previous year (788,000 fewer people). Meanwhile, the employed population (102.6 million) remained stable in the quarter and increased by 926,000 people on an annual basis. The employment rate – the proportion of employed people within the working-age population – stood at 58.8%, remaining stable compared to the previous quarter and the same period in 2024. Here are the highlights of the survey: Unemployment rate: 5.4% Underutilization rate: 13.9% Unemployed population: 5.9 million Employed population: 102.2 million Population out of the workforce: 66.1 million Discouraged population: 2.6 million Formally employed: 39.2 million Informally employed: 38.8 million Formalization stable in the quarter, but still at a record level. According to IBGE data, the private sector had 52.7 million employees, the highest number in the historical series, although there were no significant changes in the quarter or year. Among them, workers with formal employment totaled 39.2 million – a new record – with stability in the quarter and a 2.4% increase from the previous year (927,000 more people). On the other hand, those without formal employment reached 13.6 million, a stable number in the quarter and 3.9% lower than the previous year (550,000 fewer people). In the public sector, the contingent was 12.9 million, stable in the quarter and 2.4% higher than a year earlier (298,000 more people). The total number of self-employed workers reached 25.9 million, also stable in the quarter, but 3.1% higher than the previous year (an addition of 771,000 people). The informality rate remained at 37.8% of the employed population – equivalent to 38.8 million people – repeating the percentage from the previous quarter and dropping from 38.9% observed in the same period in 2024. Real usual income reached R$ 3,528, a new record, remaining stable quarterly and increasing by 3.9% in a year. Meanwhile, the real income mass, at R$ 357.3 billion, also renewed the record, with no variation in the quarter and an annual increase of 5.0% (an additional R$16.9 billion). *Report in progress.