LatinNews Daily - 29 April 2022

In brief: Unemployment rate drops in Mexico

* Mexico’s national statistics institute (Inegi) has released new figures from its national employment survey (Enoe) which show that the unemployment rate in March 2022 stood at 3% of the economically active population – people over the age of 15 who are employed or seeking employment – equating to 1.7m people. Year-on-year, the number of unemployed people decreased by 425,000, or 0.9 percentage points, in March 2022 as compared to March 2021. In monthly terms, the unemployment rate decreased by 0.3 percentage points. The Enoe also shows that Mexico’s economically active population numbered 58.4m people in March 2022, up 2.6m people from March 2021. Of this population, 56.6m people were employed in March 2022 – 3m more than in March of the previous year. According to Inegi, 4.8m or 8.4% of the employed population were underemployed, meaning they needed to work more hours. Mexico’s unemployment rate has consistently dropped in recent months, as the country recovers from the impact of the coronavirus (Covid-19) pandemic.

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