Unemployment rate in Mexico stood at 3.3% during June

The unemployment rate in Mexico last June stood at 3.3% of the Economically Active Population (PEA), a figure equal to that of last May, the National Institute of Statistics and Geography (Inegi) reported on Thursday.

“The unemployed population was 2 million people and the unemployment rate (TD) was 3.3% of the PEA. Compared to June 2021, the unemployed population decreased by 319,000 people and the TD was lower by 0.7 percentage points”, indicated the Inegi in its report.

In seasonally adjusted figures (without seasonal factors), the unemployment rate did not change compared to the previous month.

The Economically Active Population was 59.4 million people aged 15 and over, which represented a participation rate of 59.8% and a population higher by 2 million compared to June 2021.

Of the EAP, 57.4 million people were employed during June, 2.3 million more than in June a year earlier.

Underemployed people, that is, those who declared having the need and availability to work more hours, were 5.1 million or 8.9% of the employed population, a reduction of 1.7 million people compared to June 2021.

Workers in the informal sector in June amounted to 32.1 million, which placed the informality rate at 55.8%, 0.5 percentage points higher than a year earlier.

The employed population by sector of activity was distributed with 43% of the total in services, in commerce 19.3%, in manufacturing industry 16.5%, in agricultural activities 11.8%, and in construction 8.1%.

While in “other economic activities”, which include mining, electricity, water, and gas supply, 0.7% were employed, and 0.6% did not specify their activity.

Of the total number of employed persons, 67.9% work as subordinate and paid workers, while 23% work independently or on their own without hiring employees.

For their part, 5.2% are employers, and 3.9% work in businesses or family plots without monetary remuneration.

By gender, the female Economically Active Population in June was 23.7 million and the male 35.6 million, with an economic participation rate of 45.1% in women of working age and 76.3% in men.

In addition to almost 6.7 million infections and nearly 327,000 deaths, the fifth highest figure in the world, the covid-19 crisis caused an 8.2% contraction in Mexico of the gross domestic product (GDP) in 2020, with a rebound of just 4.8% in 2021.

According to the Mexican Institute of Social Security (IMSS), the Mexican economy created 846,416 formal jobs in 2021, 4.3% higher than 2020, and now consists of a record of more than 21 million affiliated workers.

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