FX.co ★ Mexico Jobless Rate Falls To 2.5%

According to the National Institute of Statistics and Geography (INEGI), Mexico's unemployment rate experienced a significant decrease in February, surpassing expert predictions.

Without adjustments, the unemployment rate fell to a near year-low of 2.5 percent from 2.9 percent in January. This decline defied economic forecasts, which projected a slight dip to 2.8 percent.

In comparison to the same month last year, the unemployment rate was set at 2.7 percent.

Additionally, the number of unemployed individuals decreased from 1.63 million during the previous year to 1.49 million in February.

When adjusted for seasonal variations, the jobless rate in February also underwent a decline from 2.7 percent in January to 2.6 percent.