LatinNews Daily - 28 July 2023

* Mexico’s national statistics institute (Inegi) has published new figures which show that the unemployment rate stood at 2.7% of the economically active population – people over the age of 15 who are employed or seeking employment – in June 2023, equating to 1.6m people. In monthly terms, the unemployment rate decreased by 0.3 percentage points on seasonally adjusted figures. Year-on-year, the rate dropped by 0.7 percentage points in comparison with June 2022. According to Inegi, the number of people in Mexico’s economically active population who were employed in June 2023 equalled 60.3m, up 859,000 on the same month of 2022. Of the employed population, 4.6m or 7.9% were underemployed, meaning they had the capacity and need for more work. This represented a decrease of 495,000 people compared with June 2022. Inegi also noted that the number of people employed in the informal sector totalled 32.6m, equivalent to 55.5% of the employed population – a decrease of 0.4 percentage points compared with June 2022.