Mexico's jobless rate at 6.28 percent in August..Huhhhhh?

[PocketProtector]

http://news.moneycentral.msn.com/pro...23&id=10414767

Mexico's jobless rate at 6.28 percent in August
September 23, 2009 9:11 AM ET

Associated PressAll Associated Press news

MEXICO CITY (AP) - 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."

[theo]

Guess if I lose my job I will move to Mexico, as our unemployment rate is 9.8 (really higher but this is what is reported) and growing. Maybe I can work in Cancun.

[LorDiego01]

I don't trust their "official" numbers any more than I trust our "official" numbers.

[Dredly]

That doesn't include the millions of mexicans unemployed in the US does it?

[BSH]

That doesn't include the millions of mexicans unemployed in the US does it?

Precisely. Encouraging emigration is a near-official government policy to address unemployment and related social ills.