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Financial News: MEXICO: Jobless Rate Rises Slightly In August, To

MEXICO: Jobless Rate Rises Slightly In August, To 3.3%

09/26/2017 - 13:11:00 (RTTNews)

(RTTNews) - Mexico's unemployment rate rose to 3.3% of the economically active population in August, only 0.1 percentage point (pp) above the data recorded in July, when it reached the lowest level since May 2006, according to the country's statistical institute.

Meanwhile, the rate fell by 0.4 pp compared to the same month of 2016, keeping the deceleration process observed last month.

Mexico's unemployment rate refers to the labor force percentage that worked less than an hour during the survey reference period, but expressed willingness to do so and tried to find a job.

The unemployment rate rose in August despite a decrease in the labor force participation rate to 58.8%, from 59.1% in July.

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