Unemployment rate showed a decrease in March: Inegi

Mexico's unemployment rate fell to 2.2% of the economically active population (EAP) in March —lower than the 2.3% recorded a year earlier and the 2.5% recorded in February—the National Institute of Statistics and Geography (INEGI) reported Monday.

Meanwhile, the unemployed population was 1.4 million, a year-on-year decrease of 39,486, INEGI reported. The economically active population (EAP) in the third month of the year reached 61 million people aged 15 and over, representing a participation rate of 59.3% and a labor force that was 127,620 lower than in March 2024.

Of the EAP, 59.7 million people were employed, 88,134 fewer than in the same month last year.

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The number of underemployed people, that is, those who reported the need and availability to work more hours, totaled 3.9 million, 6.6% of the employed population, an increase of 43,000 compared to March 2024.

Informal workers totaled 32.5 million, leaving the informality rate at 54.4 percent. The employed population by sector of activity was distributed with 45.4% of the total in services, 19.6% in commerce, 16% in manufacturing, 9.7% in agricultural activities, and 7.9% in construction.

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While "other economic activities," which include mining, electricity, water, and gas supply, accounted for 0.6% of the total, and another 0.8% did not specify any activity.

The figures reflect Mexico's economic performance, which grew 1.5% in 2024, but fell 0.6% from October to December, its first quarterly contraction in the last three years, due to the uncertainty caused by the presidential election of Donald Trump, coupled with US tariffs.

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