Mexico Jobless Rate Rises More Than Forecast

(RTTNews) - Mexico's unemployment rate increased more than expected in May, data from the National Institute of Statistics and Geography showed on Tuesday.

On an unadjusted basis, the jobless rate rose to 3.3 percent in May from 3.0 percent in April. The rate was forecast to rise slightly to 3.1 percent.

In the corresponding month last year, the unemployment rate was 4.0 percent.

There were 1.9 million unemployed people in May, up from 1.8 billion in the previous month.

On a seasonally adjusted basis, the jobless rate rose to 3.4 percent in May from 3.1 percent a month ago.