The unemployment rate in Mexico was located last May at 2.9% of the economically active population (EAP)which implies a year-on-year decrease, but a monthly increase, reported this Friday the National Institute of Statistics and Geography (Inegi).
The data is higher than the 2.8% index of last April, although it is lower than the 3.2% of the fifth month of 2022, the autonomous body specified in its report.
The unemployed population was 1.8 million people and the unemployment rate (TD) was 2.9% of the EAP. Compared to May 2022, the unemployed population decreased by 173,000 people and the TD was lower by 0.3 percentage points”,
detailed the Inegi.
The EAP for the fifth month of the year was 60 million people aged 15 and over, which represented a participation rate of 60% and an active population 939,000 higher than that of May 2023.
Of the EAP, 58.3 million people were employed during May, 1.1 million more than in the same month a year earlier.
Underemployed people, that is, those who declared having the need and availability to work more hours, were 4.7 million, 8.1% of the employed population and a reduction of 132,000 people in relation to May 2022.
By sectors and informality
Informal workers in May totaled 32.1 million, which lowered the informality rate to 55.2%, some 0.4 percentage points less than a year earlier.
The employed population by activity sector was distributed with 43.4% of the total in services, 20% in commerce, 16.4% in manufacturing, 11% in agricultural activities and 7.6% in construction.
While in “other economic activities”, which include mining, electricity, water and gas supply, 0.7% was employed, and another 0.8% did not specify activity.
By gender, the female EAP in May was 24.42 million and the male 35.59 million, with an economic participation rate of 46% in women of working age and 75.9% in men.
The employment figures reflect the behavior of the Mexican economy, whose gross domestic product (GDP) it grew 3.7% year-on-year and 1% quarterly in the first quarter of 2023, according to the final figures from Inegi.
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