The unemployment rate in Mexico in the fourth quarter of 2024 had its lowest level since Inegi has been registered, 2005, although the suboccupation reached its highest figure since the second quarter of 2022.
The indicator that measures the unemployment in both the formal and informal sector was 2.6% compared to the economically active population (PEA), according to unstacilities of the Institute of Statistics published on Tuesday.
A total of 1.6 million people did not work for an hour during the Inegi survey reference, although they said they had looked for work or performing some activity to put a business or do an activity on their own.
The PEA, made up of those who have a job and those who do not, but look for one, added 61.1 million people, which represented a participation rate of 59.9% of the population aged 15 and more in Mexico.
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The above meant an increase of 12,000 people in the PEA, since in the fourth quarter of 2023 that universe was 61 million people or a participation rate of 60.5%.
On the other hand, the suboccupation, the one that is understood as the need and availability of offering more work hours than the current occupation allows a person, added 4.9 million individuals, that is, 245,000 more than in the same period of 2023.
Those 4.9 million people represented 8.2% of the total people occupied in the fourth quarter of 2024, the highest rate from 8.7% of the second quarter of 2022.
In the fourth quarter the sum of people in all informal employment modalities was 32.4 million, that is, 54.5% of the employed population, the same rate as that registered in the third quarter.
That absolute number represented a drop of 143,000 people with respect to the same quarter of 2023, when the informality rate was 54.8%.
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