ast year, Mexico had registered a higher jobless rate as compared with the rate in 2014. With the fluctuations in the Mexican labor market data, the average jobless rate of 4.35% in 2015 was below 2014’s 4.83%, on par with the economy expanding close to trend rate. But in spite of the unexpected upside labor market data in the first quarter, the projections of decelerating growth has negatively impacted the possibility of labor market rebounding in 2016, said Societe Generale in a research report.
Currently, the Mexican labor market is stagnant with the jobless rate at about 4.1%- 4.3%, as compared with the 2007-2008 peak rate of about 3.4%-3.7%. The seasonally adjusted jobless rate is expected to have slightly declined in April to 4.16% from March’s 4.19%, even if the non-adjusted unemployment rate increases to 4.11%, according to Societe Generale.