Unemployment rose to 3.4% in Mexico

The unemployment rate in Mexico stood at 3.4% of the economically active population (EAP) in December 2018, slightly higher than 3.1% of the same month in 2017, the National Institute of Statistics and Geography (Inegi) reported today.

The unemployment rate in Mexico stood at 3.4% of the economically active population (EAP) in December 2018.
The unemployment rate in Mexico stood at 3.4% of the economically active population (EAP) in December 2018.

According to data adjusted for seasonality, the level of unemployment stood at 3.6% in the twelfth month of the year, a rate 0.3 percentage points higher than that registered last November, the institution said in a statement.

The underemployed population, which declared having need and availability to offer more hours of work than the current occupation allows, represented 6.6% of the total of the employed, a level higher than the same month of 2017, which closed in 6.4%, in original figures.

The employed population was 96.6% of the PEA in December 2018.

The Inegi considers employed people over 14 who work at least six hours a week and in any position.

42.9% of the employed population was concentrated in the services sector, 18.7% in commerce, 16.9% in the manufacturing industry and 12.2% in agricultural activities.

Another 8% in construction, 0.7% in other sectors such as mining, electricity, water and gas supply, and the remaining 0.6% did not specify their activity.

Of the total employed, 68.8% operate as a subordinate and paid worker occupying a job or position, 21.5% work independently or on their own without hiring employees, 5.1% are employers or employers and, finally, 4.6% work in business or in family plots.

via: Inegi