Mexico – Labor market kept improving in April, with jobs at an all-time high

  • The unemployment rate rose by 6bps to 3.03% (nsa) in March. With sa figures, the rate came in 3.09% (previous: 3.39%)

  • Jobs increased by 1.0 mn, despite seasonal trends and centered in the formal sector. Wages rose to $49.98 (7.2% y/y)

  • We believe the labor market will continue its recovery. Still, we see downside risks that could dampen its trend ahead

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