Weekly Report - 13 July 2004

EMPLOYMENT | Jobless rate seen rising. The OECD predicts that Mexico's unemployment rate will rise this year to 3.5%, before falling in 2005 to about 3.1%. Actually, the official rate has already reached that level [WR-04-25]. Aware of the narrow official definition of unemployment, the OECD notes that the proportion of people in active age in Mexico who have a job is 'relatively low': fewer than 60% in 2003. Mexico, it notes, has one of the highest rates of informal employment in the OECD.

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