Unemployment Rates Drop in Seven Brazilian States, IBGE Reports

Brazil’s job market showed signs of improvement in the third quarter of 2024. The Brazilian Institute of Geography and Statistics (IBGE) released new data on unemployment rates across the country.

Seven states experienced a decrease in unemployment, while the rest remained stable. Bahia led the pack with the most significant drop in unemployment. The state’s rate fell from 11.1% to 9.7%, a 1.4 percentage point decrease.

This change reflects a positive trend in the local job market. Other states also saw notable improvements in their employment situations. Rondônia’s unemployment rate decreased by 1.2 percentage points.

It went from 3.3% to 2.1%, making it the state with the lowest unemployment rate. Rio de Janeiro saw a 1.1 percentage point drop, with its rate falling from 9.6% to 8.5%.

Mato Grosso and Pernambuco both experienced a one percentage point decrease in unemployment. Mato Grosso’s rate fell from 3.3% to 2.3%, while Pernambuco’s dropped from 11.5% to 10.5%.

Despite this improvement, Pernambuco still has the highest unemployment rate in Brazil. Rio Grande do Sul and Santa Catarina also saw positive changes.

Brazil’s Job Market

Rio Grande do Sul’s rate decreased by 0.8 percentage points, from 5.9% to 5.1%. Santa Catarina’s rate fell by 0.4 percentage points, from 3.2% to 2.8%.

The national unemployment rate showed a downward trend as well. It decreased to 6.4% in the third quarter of 2024. This figure is lower than both the second quarter of 2024 (6.9%) and the third quarter of 2023 (7.7%).

Compared to the same period last year, 13 states saw a decrease in unemployment rates. Amapá had the most significant improvement, with a 4.3 percentage point drop. Its rate fell from 12.6% to 8.3%.

The informal job market saw changes in only two states compared to the previous quarter. Bahia’s informal work rate increased by 2.3 percentage points, reaching 51.7%. Mato Grosso’s rate rose by 1.7 percentage points, hitting 35.3%.

These figures suggest a gradual improvement in Brazil‘s job market. However, challenges remain in reducing informal employment and regional disparities in unemployment rates.