Photo: Mexico's Unemployment Rate
The unemployment rate in Mexico was 4.93 percent last month, up slightly from the 4.83 percent rate registered in May 2012, the National Institute of Statistics and Geography, or INEGI, said Monday.
The unemployment rate was 5.07 percent in May, or 0.07 percentage points below the April level, not adjusting for seasonal factors, the INEGI said.
The male unemployment rate rose from 4.73 percent in May 2012 to 4.93 percent last month, while the jobless rate for women fell slightly from 4.95 percent to 4.93 percent during the same period.
The underemployment rate - defined as workers who wish and are willing to work more hours but are unable to do so - was 8.6 percent last month, down from the 8.9 percent rate registered in May 2012, the INEGI said.
The statistics agency, which considers a worker to be employed if they are older than 14 and work at least six hours a week in any occupation, said the labor force participation rate was 95.07 percent in May.
Some 59.67 percent of Mexico’s workers were employed in the formal sector of the economy in May, a figure that was below the 60.18 percent level registered in May 2012, the INEGI said.
Mexico has a population of 112.3 million, according to the latest census, of whom 52 million live in poverty.