Brazil’s transformation industry productivity: Increase of 2.3% in the second quarter

The labor productivity in the Brazilian transformation industry registered an increase of 2.3% in the second quarter of 2022 compared to the year’s first quarter.

The result considered the series free of seasonal effects. The data are in a study released by the National Confederation of Industry (CNI).

According to the survey, this is the first quarter of a high indicator since the third quarter of 2020, interrupting a sequence of six quarters of reduction.

The picture is presented in a moment of heating the labor market, with the recovery of employment and income and the reduction of difficulties in obtaining inputs and raw materials.

Francisco Oliver, 62, a mechanical industrial engineer, celebrates the result. In his evaluation, if the country starts to invest more in the area, the performance will be better and better.

“The transformation industry has a lot to contribute to the development of the country, for being a sector a very employer segment, developing new technologies and innovations, and always offering specific training for the labor force.

“In short, if the economy grows a little again, this performance can improve even more”, he believes.

WAGE MASS

The real salary mass of the transformation industry in the seasonally-effect-free series increased by 1.3% in July compared to June 2022.

The accumulated increase between June and July totals 3.8%. With the jump, the salary mass reached its highest point since March 2020.

Compared to July 2021, the increase is 7.3%.

The economist and professor at FGV-EAESP, Renan Pieri, analyzes that the salary mass depends on the level of qualification of the professionals but also on the return that the company has with the hiring.

He explains that productivity in industry, in general, exceeds that of other sectors, which generates higher revenues and better salaries.

“Industry is fundamental for the economy’s performance; it enables good formal jobs that generate positive impacts throughout the economy.

“The industry has growth potential in Brazil, despite some bottlenecks that range from infrastructure, tax complexity, and the lack of qualified labor.

“But, certainly, the sector has a great potential,” he points out.

In turn, the real average income of transformation industry workers in the seasonally-effect-free series rose 1% in July 2022 compared to June.

The balance shows that there has been a recent recovery, with an accumulated increase of 2.8% between June and July.

With information from Brasil61

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