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Unemployment in Mexico decreases to 3.5% in October at annual rate

The unemployment rate in Mexico stood at 3.5% of the economically active population (PEA) in October, lower than 3.7% in the same month of 2016, the National Institute of Statistics and Geography (Inegi).

Mexico, Nov 28 (EFE) .- The unemployment rate in Mexico stood at 3.5% of the economically active population (EAP) in October, lower than 3.7% in the same month of 2016, reported National Institute of Statistics and Geography (Inegi).

According to seasonally adjusted data, the level of unemployment stood at 3.4% in the tenth month of the year, a rate identical to the one registered last September, the institution said in a statement.

The underemployed population, which declared having need and availability to offer more hours of work that his current occupation allows him, reached 7.4% of all the employed, a figure lower than the 8.1% reported a year earlier, in original figures.

The Inegi, which considers Employed people over 14 who work at least six hours a week and in any position, placed the occupancy rate at 96.5% of the EAP in October.

People in the informal economy represented 57.4% of the total employed population, lower than the rate of 57.8% in October 2016.

42% of the employed population was concentrated in the services sector, 18.2% in commerce, 16.8% in manufacturing and 13.2% in agricultural activities.

Another 8.5% in construction, 0 such as mining, electricity, water and gas supply, and the remaining 0.6% did not specify their activity.

68.5% of workers are salaried workers, 21.9% % are employers or employers and 4.9% are people without fixed payments who work in businesses or family plots.

The number of unemployed decreased in Mexico in 2016 by 329,372 people and it stood at 1,911,126, which allowed reducing the unemployment rate by seven tenths, up to 3.5%, a level that had not registered since 2007.

Mexico has 123.5 million inhabitants according to the demographic projections made from the last population census for 2017.

In 2016, 43.6% of the population -53.4 million-lived in poverty, according to the report of the National Council for the Evaluation of Social Development Policy (Coneval).

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