The Mexico's unemployment rate has not changed in November, remaining at 2.7%, according to the National Institute of Statistics and Geography (INEGI). This percentage disappoints the expectations of the market, which expected a decline to 2.6%.
In November 2023 and with original figures, the economically active population (EAP) was 59.8 million people, which implied a participation rate of 61%. This population was 827,000 people higher than in November 2022. The non-economically active population was 38.3 million people, 234,000 more people than in the penultimate month of 2022.
According to the PEA statement, 58.2 million people were employed (97.3%) last November: 911,000 more than in November 2022. Within it, underemployed people—those who declared they had the need and availability to work more hours— There were 4.8 million (8.2% of the employed population), an increase of 403,000 people compared to the same month a year earlier.
USD/MXN reaction
The price of the Dollar has risen against the Mexican Peso from 16.88 to 16.9174 following labor data from Mexico and the US (whose number of weekly unemployment benefit claims has risen more than expected in the week of December 22). The pair is currently trading above 16.9158, practically flat on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
