Location Brazil Brazil

Brazil: 64 Percent of Populace Work Side Gigs to Support Income

In the first half of the year, 83 percent of consumers made cuts in their budget to cope with Brazil’s economic crisis.

Sixty-four percent of Brazilians took on some type of informal side gig to help support their income in the first quarter of 2018. According to a survey conducted by the Credit Protection Service, or SPC, and the National Confederation of Store Leaders, or CNDL, and published Monday.

According to the study, more than 70 percent of workers in the poorest class ranking (classes C, D, and E) resorted to side gigs to complement their monthly income. Of that total, 44 percent said that they felt their financial situation is worsening.

While 19 percent said they believed the country’s economic situation has improved, five in every ten interviewees said they considered that the Brazilian economy had worsened since last year.

In the first half of the year, 83 percent of consumers made cuts in their budget to help cope with the South American country’s economic crisis, and 77 percent said they didn’t feel any of the indicators stating that economic improvements had occurred.

When asked about future perspectives, the survey revealed divided opinions. Thirty-nine percent believed that the economic situation would improve in the second quarter, while 29 percent think that the situation will continue as is, according to Brasil 24/7.

Furthermore, 15 percent believe that economic conditions will get worse.

The survey interviewed a total of 886 men and women over 18 years of age and from all social class groups in the 27 Brazilian cities. The margin of error is 3.3 percentage points, with a 95 percent confidence rate.


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