Mexico’s Unemployment Rate Comes In at 5.18% in August

Mexico City – Mexico’s unemployment rate was 5.18 percent in August, basically unchanged from the 5.17 percent level registered in August 2013, the National Institute of Statistics and Geography, or INEGI, said Monday.
The unemployment rate last month was 4.87 percent, without adjusting for seasonal factors, well below the 5.16 percent rate registered in July.
The unemployment rate for males was 5.01 percent in August, compared to the 5.08 percent rate registered in August 2013, while the unemployment rate for females was 5.45 percent, just above the 5.3 percent reported in the year-earlier period.
The underemployment rate – defined as workers who wish to and are willing to work more hours but are unable to do so – was 7.6 percent in August, well below the 8.9 percent rate registered in the same month last year, the INEGI said. The statistics agency, which considers a worker to be employed if they are older than 14 and work at least six hours a week in any job, said the labor force participation rate was 94.82 percent in August.
Some 57.32 percent of Mexico’s workers were employed in the informal sector of the economy last month, a figure that was below the 59.35 percent level registered in August 2013, the INEGI said.
About 41.6 percent of workers were employed in the service sector, while 19.3 percent were employed in retailing, 16.1 percent worked in manufacturing and 14.4 percent worked in agriculture.
Some 7.4 percent of workers were employed in construction and 0.70 percent worked in other sectors, such as mining, electric utilities and water and gas distribution, while 0.50 percent were employed in unspecified occupations.
Mexico has a population of 119.5 million, according to the latest projections based on the 2010 census, of whom 53.3 million live in poverty.

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