The unemployment rate in Mexico drops to 3.4% during third quarter

The unemployment rate in Mexico fell in the third quarter to 3.4 percent of the economically active population (EAP), a figure lower than the 4.2 percent for the same period in 2021, the National Institute of Statistics and Geography (Inegi) reported on Wednesday, November 23rd.

“A total of 57.4 million people were employed, 1.6 million more people compared to the same quarter of 2021,” the autonomous body indicated in its report.

Even so, the unemployment rate from July to September is higher than the 3.2 percent reported by the statistics institute in the second quarter of 2022, based on the National Occupation and Employment Survey (ENOE).

The EAP for the third quarter of the year was 59.5 million people aged 15 and over, which represented a participation rate of 59.9 percent and a population 1.2 million higher than that of July-September 2021.

Underemployed people, that is, those who declared having the need and availability to work more hours, were 4.6 million, 8.1 percent of the employed population, a lower percentage than the 12.9 percent in the third quarter of 2021.