Mexico’s unemployment rate rises to 4.8 percent

Mexico City, April 23 (IANS/ EFE) Unemployment rate in Mexico rose to 4.8 percent in March, the National Institute of Statistics and Geography (INEGI), said Tuesday.

The unemployment rate stood at 4.51 percent in March 2013, the INEGI said. The unemployment rate last month was 5.25 percent, without adjusting for seasonal factors, well above the 4.81 percent rate registered in the previous month.

The unemployment rate for males was 4.66 percent in March, compared to the 4.46 percent rate registered in March 2013, while the unemployment rate for females was 5.01 percent, well above the 4.6 percent reported in the year-earlier period.

The underemployment rate – defined as workers who wish to and are willing to work more hours but are unable to do so – was 8.3 percent in March, up from the 7.8 percent rate registered in the same month last year, the INEGI said.

Mexico’s economy grew 1.1 percent in 2013, compared to the previous year, and the government is forecasting economic growth of 3.9 percent this year.

–IANS/EFE

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