LatinNews Daily - 03 March 2023

In brief: Mexico’s unemployment down year on year

* Mexico’s national statistics institute (Inegi) has published new figures which show that the unemployment rate stood at 3.0% of the economically active population – people over the age of 15 who are employed or seeking employment – in January 2023, equating to 1.8m people. This is a 0.7 percentage point decrease on the unemployment rate registered in January 2022. On seasonally-adjusted figures, unemployment was up from 2.9% in December 2022. According to the Inegi figures, the number of people in Mexico’s economically active population who were employed in January 2023 equalled 58.4m, up 2.8m on the same month in 2022. Of the employed population, 4.5m or 7.7% were underemployed, meaning they had the capacity and need for more work. This represented a decrease of 568,000 people compared to January 2022.

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