Mexico’s unemployment drops in February to lowest in 7 months
The level of unemployment during February reached 3.30% of the Economically Active Population (PEA in Spanish), with which the percentage of jobless people in the country reached the lowest level in seven months, reported today the National Institute of Statistics and Geography (Inegi).
According to data from the National Occupation and Employment Survey (ENOE), this figure was favored by a lower level of participation of the population over the age of 15 in the labor market. At the end of the month, it was recorded that 59.3% of the working-age population participated actively in the labor market, either working or looking for work.
The ENOE also shows that in the course of February the rate of informality was 56.61%, the lowest in 10 months. It is considered informal worker to anyone who lacks a contract, employment benefits, medical services or all of the them, regardless of whether they work for a formally established company.
In contrast, the employment rate in the informal sector was 27.06%. This item represents those persons who perform tasks for businesses, whether itinerant or fixed, but who lack accounting records before the tax authority.