MEXICO: Jobless Rate Drops To 3.2% In June, The Lowest Level In 11 Years

(RTTNews) - Mexico's unemployment rate fell to 3.2% of the economically active population in July, remaining at the lowest level since May 2006, according to the country's statistical institute.

The rate fell by 0.1 percentage point (pp) compared to June and 0.6 pp from the same month of 2016, keeping the deceleration process observed last month.

Mexico's unemployment rate refers to the labor force percentage that worked less than an hour during the survey reference period, but expressed willingness to do so and tried to find a job.

The unemployment rate drop was followed by a decrease in the labor force participation rate to 59.2%, from 59.3% in June.