The unemployment rate in Mexico dropped last March to 2.4% of the economically active population (PEA)reported this Thursday the National Institute of Statistics and Geography (Inegi).
The data is lower than the 2.7% index of last February and the 3% of the third month of 2022specified the autonomous body in its report.
The unemployed population was 1.4 million people and the unemployment rate (TD) was 2.4% of the EAP. Compared to March 2022, the unemployed population decreased by 287,000 people and the TD was lower by 0.6 percentage points”, detailed the Inegi.
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The EAP for the third month of the year was 60.5 million people aged 15 and over, which represented a participation rate of 60.5% and an active population 2.1 million higher than that of March 2023.
Of the EAP, 59 million people were employed during March, 2.4 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 million, 6.8% of the employed population and a reduction of 742,000 people in relation to March 2022.
By sectors and informality
Workers in the informal sector in March totaled 32.5 million, which brought the informality rate down to 55%, some 0.8 percentage points less than a year earlier.
The employed population by activity sector was distributed with 43.4% of the total in services, 19.4% in commerce, 16.8% in manufacturing, 11% in agricultural activities and 8.1% in construction.
While in “other economic activities”, which include mining, electricity, water and gas supply, 0.7% was employed, and another 0.6% did not specify activity.
By gender, the female EAP in March was 24.62 million and the male 35.84 millionwith an economic participation rate of 46.5% for women of working age and 76.2% for men.
The employment figures reflect the behavior of the Mexican economy, whose gross domestic product (GDP) grew by 3.9% year-on-year and 1.1% quarterly in the first quarter of 2023, according to the timely estimate that Inegi released last week.
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