MexECON Blog

April Unemployment Remains at Multi-Year Low

Mexico's April unemployment rate came in at a seasonally-adjusted 4.3%, unchanged from the revised rate in March but below its six-month moving average.  At the current level, joblessness in Mexico remains at its lowest since October 2008. 

The report was released today by INEGI, the official statistics agency.

Comment:  The Mexican labor market has improved markedly since last summer.  Importantly, hiring has held up even in the midst of softer exports, manufacturing, and construction in recent months.  As a result, I am optimistic that consumer optimism will continue to rise and that consumption demand will continue to grow.  If so, Mexico's economy will probably keep growing at least moderately in the near term.

Patrick Fearon, CFA
Portfolio Manager

Unemployment 1504

 

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