Macro Analysis /
GlobalPause in the recovery of the labor market in May despite a favorable backdrop
The unemployment rate rose to 3.27% (nsa) in May. With sa figures it climbed to 3.35% (previous: 3.08%)
Jobs fell by 518.1k, contrary to seasonal trends. Losses centered on the formal sector an on primary activities
This setback may be a pause on the recovery trend. As such, we maintain our 3.6% forecast for the end of the year
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
28 June 2022
Published byBanorte
