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Wednesday, June 29, 2022

Yucatan’s population up 1.2% as unemployment rate remains low

Off-the-books jobs at Yucatan's lowest point ever

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From June 2018 to June 2019, Yucatan’s population increased by 1.2%, or 26,640 people. Just over a third of them are considered a part of the work force, affecting the state’s labor rate.

Yucatan has a statewide population of 2,222,924 as of June 2019. Last year at this time, the government counted 2,196,284 inhabitants.

Despite the population increase, the state has Mexico’s third-lowest unemployment rate, according to the federal statistics bureau.

Yucatan’s unemployment rate is 1.8%, behind Oaxaca, 1.3%; and Guerrero, 1.4%. However, the influx of new residents coming for work dinged the state’s jobless rate, which was previously 1.5%.

Last year, the state counted 16,311 unemployed people. The current figure is at 19,114.

“Informal” jobs dropped 5.3% to its lowest rate in history, according to the same report. The survey counted 631,322 people in Yucatan, or 56.6%, working off the books.

Street vendors, construction, small-scale factory and domestic help are the most prevalent workers in this category.

Formally registered jobs account for about 42% of employment in Mexico, but they generate over three-quarters of all economic production.

Source: Punto Medio

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