LatinNews Daily - 29 June 2022

In brief: Mexico’s annual unemployment rate falls

*Mexico’s national statistics institute (Inegi) has released new figures from its national employment survey (Enoe) which show that the unemployment rate in May 2022 stood at 3.3% of the economically active population – people over the age of 15 who are employed or seeking employment – equating to 1.9m people. Compared to May 2021, the figures show an annual decrease of 352,000, or 0.7 percentage points, in the number of unemployed. However, in monthly terms, the rate of unemployment in May increased by 0.3 percentage points. The Enoe also shows that Mexico’s economically active population in May 2022 numbered 59.1m, an increase of 1.9m compared to May 2021. Of this population, 57.1m (96.7%) were employed in May 2022, 2.2m more than in May 2021. According to Inegi, 4.8m or 8.5% of the employed population were underemployed, meaning they had the capacity and need to work more hours.

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