MEXICO CITY--Unemployment in Mexico fell in September from a year earlier, and was also down from August as the economy continued to generate jobs amid steady economic growth.
The National Statistics Institute, or Inegi, said unemployment was 5% last month, compared with 5.7% in September 2011, and was down 0.2 percentage point in seasonally adjusted terms from August.
Underemployment was unchanged from a year ago at 8.9%.
Unemployment in the 32 largest cities fell to 5.7% from 6.2% a year earlier, and was also down from August.
Uninterrupted economic growth since the second quarter of 2009 has contributed to record employment levels, although with the workforce expanding, unemployment has yet to drop to precrisis 2008 levels.
Around 110,000 private-sector jobs were created in September, according to Labor Ministry data.
The increase in formal employment--measured by the number of workers registered for health and other services with the Mexican Social Security Institute--has also been accompanied by greater numbers finding work in the informal economy, which according to Inegi accounts for close to 30% of the workforce.
Proposed changes in the country's labor laws, which have been passed by the lower house of Congress and are being debated in the Senate, are aimed at increasing the level of formal employment, among other things by making it cheaper and easier for companies to hire and fire workers, and facilitating part-time and temporary work.
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The National Statistics Institute, or Inegi, said unemployment was 5% last month, compared with 5.7% in September 2011, and was down 0.2 percentage point in seasonally adjusted terms from August.
Underemployment was unchanged from a year ago at 8.9%.
Unemployment in the 32 largest cities fell to 5.7% from 6.2% a year earlier, and was also down from August.
Uninterrupted economic growth since the second quarter of 2009 has contributed to record employment levels, although with the workforce expanding, unemployment has yet to drop to precrisis 2008 levels.
Around 110,000 private-sector jobs were created in September, according to Labor Ministry data.
The increase in formal employment--measured by the number of workers registered for health and other services with the Mexican Social Security Institute--has also been accompanied by greater numbers finding work in the informal economy, which according to Inegi accounts for close to 30% of the workforce.
Proposed changes in the country's labor laws, which have been passed by the lower house of Congress and are being debated in the Senate, are aimed at increasing the level of formal employment, among other things by making it cheaper and easier for companies to hire and fire workers, and facilitating part-time and temporary work.
nasdaq.com
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