FX.co ★ Mexico Jobless Rate Rises To 2.8%

In June, Mexico's unemployment rate saw an unexpected rise, reaching its highest level in five months, according to data released on Friday by the National Institute of Statistics and Geography (INEGI).

On a non-seasonally adjusted basis, the unemployment rate increased to 2.8 percent in June, up from 2.6 percent in May. Economists had predicted the rate would remain steady at 2.6 percent.

In comparison, the unemployment rate stood at 2.7 percent in June of the previous year.

The number of unemployed individuals rose to 1.68 million in June, compared to 1.59 million in the same month last year.

When adjusted for seasonal variations, the unemployment rate edged up slightly to 2.7 percent in June from 2.6 percent in the prior month.