| | |  Business News | September 2009 
Mexico's Jobless Rate at 6.28 Percent in August
 Associated Press
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September 23, 2009
| | Former Mexican President Vincente Fox thinks the U.S. should give 2% of its GDP to Mexico to help bridge the wage gap thereby reducing the motivation for illegal immigration to the United States. (Fox 11 Tuscon) | |
Mexico City — Mexico's unemployment rate rose to 6.28 percent in August, the highest rate in more than 13 years.
The National Statistics Institute says the jobless rate among the country's roughly 45 million workers was up from 4.2 percent in August 2008 as the country continues to feel the effects of the world recession.
In a report released Tuesday, the agency says the August rate was the highest since February 1996, when unemployment reached 6.3 percent as Mexico struggled to recover from the financial collapse of 1995.
Mexico's central bank said last week that the country's recession has hit bottom and predicted growth will begin in the second half of the year. But the bank said recovery in employment will be "gradual and delayed."
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