| | |  Business News | January 2009 
Mexico's December Jobless Rate Up At 4.32% Vs 3.4% Year Ago
 Peter Millard - Dow Jones
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Mexico City - Mexico's unemployment rate rose in December to 4.32% in December, up from 3.4% in the year-ago month, reported the national statistics institute, or Inegi, on Wednesday.
The jobless rate fell slightly compared with 4.47% in November. Unemployment normally falls in December due to increased consumer activity ahead of the Christmas holidays.
Urban employment rose to 5.54% in December, compared with 5.34% in November and 4.43% in the year-ago month.
President Felipe Calderon has taken steps to protect Mexico from the U.S. downturn, such as freezing gasoline prices and tapping billions of dollars in savings for infrastructure investments. The finance ministry expects gross domestic product to be flat this year partly due to slack demand for Mexican exports in the U.S.
peter.millard(at)dowjones.com |
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