Unemployment in Mexico climbs over 5 percent
By Jesus Caudillom, Wednesday, May 14, 2014
MEXICO CITY – The unemployment rate in Mexico climbed to 5.04 percent during the first quarter of 2014, an increase of 0.3 percent over the last quarter of 2013.
The number of unemployed Mexicans citizens now stands at 2,484,798 from a total of 51.8 million economically active people, according to the National Survey of Occupation and Employment published quarterly by the National Institute of Statistics and Geography.
The working population during the first quarter of 2014 increased by 741,000 persons, continuing the trend between 2010 through to the end of 2013 of more people looking for work.
The underemployed population reached 4.1 million people in the first quarter of 2014, 8.3 percent of the entire labor force, slightly higher than same period a year ago where the rate was 8.2 percent.
Underemployment is defined as the need to seek a supplementary occupation or a new job with more hours to become fully employed.
Just over the half of the working population, 50.5 percent, are concentrated in the largest cities, those with 100,000 or more inhabitants.
Rural localities with fewer than 2,500 inhabitants, have 20.5 percent of the labor force, while cities with between 15,000 and 100,000 inhabitants account for 15.1 percent. The rest of the labor force live in towns containing between 2,500 and 15,000 people.
Breaking down sectors, 6.7 million people are employed in the agricultural or raw material sector, 12 million in the industrial sectors and 30.4 million are employed in the services sector.
Some 28.7 million Mexicans currently work in the informal sector, which represents an increase of 0.3 percent over the same period of 2013. This population accounts for 58.2 percent of the labor force.
The informal sector is defined as companies owned by individuals who are not registered as separate legal entities from their owners and for which there are no accounting records separating the company’s activities from the other activities of their owners.
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