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Mexico

Unemployment Rate in Mexico Lowest Since 2008

The informal employment rate was measured at 56.9 percent

A worker cleans the fountain of Venus in the Alameda Central, photo: Cuartoscuro/Antonio Cruz
By The News Whatsapp Twitter Facebook Share
1 year ago

The unemployment rate this July was measured at 3.8 percent of the Economically Active Population (PEA). This is the lowest it has been since August of 2008.

In July of 2015, 4.4 percent of the PEA was unemployed, falling half a percent over the course of the year. The unemployment rate for men was recorded at 3.7, compared to 3.8 percent for women.

The National Institute of Statistics and Geography (INEGI) conducted the survey and added that the number of underemployed — meaning those who must work extra hours or two jobs — was measured at its lowest since last May, at 7.8 percent of the working population.

Last month, the informal employment rate was measured at its lowest since INEGI began its surveys, measuring at 56.9 percent of the employed population. By July the number rose to 57.1. Regardless of the slight increase, this is the second lowest number of 2016, falling below the 58 percent at which it was reported in January of last year.

Informal labor includes workers in small unregistered businesses, workers without formal employment in companies — and therefore are not registered with Social Security and do not receive benefits — and those who work in agriculture or domestic services. 

VIANEY PICHARDO

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