LatinNews Daily - 23 November 2021

In brief: Unemployment falls in Mexico but informality rises

* Mexico’s national statistics institute (Inegi) has released the results from its latest national employment survey (Enoe) for the July-September 2021 quarter which show that the unemployment rate in Mexico reached 4.2%, corresponding to 2.5m people being unemployed. This is down from 5.2% unemployment registered in the same quarter in 2020, when there were stronger impacts from the coronavirus (Covid-19) pandemic. The Enoe also shows that Mexico’s economically active population – people over the age of 15 who are employed or seeking employment – has grown by 4.7m compared with the same quarter in 2020 and totalled 58.3m, equivalent to 59.4% of the overall population aged 15 and over. Meanwhile, the underemployment rate fell to 12.9% in the third quarter of 2021, from 16.9% in the same quarter in 2020. However, the same figures showed that the number of people employed in the informal sector totalled 31.4m, up 3.9m on the same period in 2020 and equivalent to 56.3% of the employed population.

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