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March 8, 2023
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Industry records high employment and hours worked in January

Industrial production is stable in October for the second month, says CNI

The manufacturing industry registered an increase in the number of job vacancies in the sector, hours worked in production and in the real wage bill, in January 2023, compared to December 2022. The data were informed this Wednesday (8), in Brasilia, by the National Confederation of Industry (CNI).Industry records high employment and hours worked in January

O lifting shows, however, that the average income of workers has dropped, as well as the real turnover of companies, which has retreated for the fifth consecutive month, in line with the period of greater uncertainty in the last months of 2022.

CNI economist Larissa Nocko analyzes the moment of the manufacturing industry at the beginning of 2023, compared to 2022. “The increase in employment is associated with the increase in the number of hours worked in production, which shows a certain level of activity heating industrial”.

When analyzing the labor market, Larissa Nocko assesses that the salary mass and the average income of the worker come from a series of increases, throughout 2022, “which contributes to a more favorable scenario for the labor market, which has been consolidated over the years. over the past year”.

industrial employment

Industrial employment increased by 0.5% in January 2023, compared to the previous month. The rise comes after five months of relative stability. In comparison with January last year, the advance is 1%.

Hours worked in production

Hours worked in production grew by 0.5% in January 2023, compared to December. The performance at the beginning of the year signals an upturn in the level of activity. Compared to January 2022, there is an increase of 3.2% in the number of hours worked.

Salary mass

In January 2023, the wage bill, which corresponds to the sum of all wages paid to industry workers, increased by 1.5%, compared to December 2022. The result is the third consecutive increase. In this period, from November 2022 to January 2023, the wage bill accumulated growth of 3.8%. Compared to January 2022, growth reaches 7.8%.

Average income of workers

In January 2023, compared to December 2022, the average real income of industry workers fell by 0.3%. Despite the drop, when compared to January 2022, the growth is 6.6%.

Actual industry turnover

The actual turnover of the manufacturing industry confirms the series of casualties. It is the fifth consecutive month of declines. In January 2023, the indicator decreased by 0.9% compared to December 2022. In the 12-month comparison, revenues fell by 1.1%.

According to economist Larissa Nocko, “this shows a certain cautious behavior on the part of the entrepreneur.”

Use of installed capacity

The survey also reveals that the Installed Capacity Utilization (UCI) remained stable in January compared to December 2022, at 79.7%. The indicator retreated 1.5 percentage points in comparison with the month of January last year.

The index measures the industry activity level and shows the percentage of the industrial park that is being used. The UCI identifies whether companies are producing at full capacity or have part of their facilities stopped.

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