The Mexican unemployment rate dropped last February to 2.7% of the economically active population (PEA)reported this Friday the National Institute of Statistics and Geography (Inegi).
The data is lower than the 3% index of last January and the 3.7% of the second month of 2022specified the autonomous body in its report.
The unemployed population was 1.6 million people and the unemployment rate (TD) was 2.7% of the EAP. Compared to February 2022, the unemployed population decreased by 547,000 people and the TD was lower by one percentage point”, detailed the Inegi.
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The EAP for the second month of the year was 60 million people aged 15 and over, which represented a participation rate of 60.2% and an active population 1.7 million higher than that of February 2022.
Of the EAP, 58.3 million people were employed during February, 2.3 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 4.3 million, 7.4% of the employed population and a reduction of 865,000 people compared to February 2022.
Informality rises 55.5%
Workers in the informal sector in February totaled 32.4 million, which raised the informality rate to 55.5%, almost 1 percentage point more than a year earlier.
The employed population by activity sector was distributed with 43.3% of the total in services, 19.9% in commerce, 16.8% in manufacturing, 10.7% in agricultural activities and 8% in construction.
While in “other economic activities”, which include mining, electricity, water and gas supply, 0.8% was employed, and another 0.6% did not specify activity.
By gender, the female EAP in February was 24.19 million and the male 35.78 million, with an economic participation rate of 45.7% in women of working age and 76.5% in men.
The employment figures reflect the behavior of the Mexican economy, whose gross domestic product (GDP) grew 3.1% annually in 2022, with the expectation that it will grow 1.6% this year, according to the Bank of Mexico (Banxico).
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