Unemployment Back Up

After March's slight reprieve in unemployment data, April's figures showed that job losses in Mexico had once again picked up the pace, up to 5.3% from 4.8%. We believe this uptrend will likely continue to rise over the months ahead, as Mexican economic activity continues to suffer from poor demand in the US. The uptick in the seasonally adjusted measure was even more significant, rising 70 basis points between March and April, from 4.6% to 5.3%, the fastest rate of increase since November last year.

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