| | |  Business News 
Mexico's May Unemployment Falls To 5.1% From 5.4% In April
 Paul Kiernan - Dow Jones Newswires
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June 24, 2010
 |  | Economic output is a long way from surpassing the levels it had reached before the 2009 recession, and domestic demand has lagged the overall recovery. |  | | |
Mexico City - Mexico's unemployment rate dipped last month from April and from May 2009 as the country's economic recovery continued to gain steam, although jobless rates remain above their pre-crisis levels.
The unemployment rate slipped to 5.1% in May, down from 5.4% in the previous month and 5.3% in May 2009, the National Statistics Institute, or Inegi, said Thursday.
Joblessness in major cities fell to 6.1% of the economically active population from 6.5% in April and 6.9% in May 2009.
Data from the Labor Ministry show that about 25,000 private-sector jobs were created in the formal economy in April.
Mexico's economy has staged a strong recovery so far this year after gross domestic product contracted by 6.5% in 2009. Led by external demand, GDP expanded by 4.3% in the first quarter from a year ago, and preliminary data from sectors such as trade and manufacturing suggest robust second-quarter growth, as well.
But economic output is a long way from surpassing the levels it had reached before the 2009 recession, and domestic demand has lagged the overall recovery.
Formal employment, as measured by the number workers registered with the Mexican Social Security Institute, or IMSS, remains below the 2008 average.
So does Inegi's survey-based unemployment rate, which fluctuated mostly between 3% and 4% before the economy began to slow near the end of 2008.
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