Macro Analysis /

Pause 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
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

28 June 2022
Published byBanorte


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