Economic activity and the Rio labor market had positive results in the first three months of the year

Economic activity index shows growth of 2.4% in the city of Rio de Janeiro and contributes to a positive economic activity in the first quarter. The formal labor market in the Municipality of Rio generated almost 10,000 new formal jobs, more than 75% in the services sector. Data are from the Municipal Secretariat for Economic Development, Innovation and Simplification, available at the Rio Economic Observatory.

Between 2021 and 2023, Rio generated almost 200,000 new jobs. The unemployment rate dropped by 2.8 percentage points between the first quarter of 2023 and the same period of 2022.

The difference between the employment rate in Rio de Janeiro and the national average has been falling in recent quarters. Historically, the carioca rate is usually higher than the Brazilian rate.

In the first quarter of 2023, there are one million informal workers in Rio, which represents 31.8% of the employed population.

The situation of vulnerability in the labor market is characterized by unemployed, underemployed, discouraged, unavailable and informal people. In 2023, there are 1.5 million people in vulnerable situations. However, there is a decrease of more than 230 thousand people in this situation in this first quarter.

In summary, there is an improvement in the economic situation in Rio.