MEXICO CITY: Mexico's jobless rate fell slightly in May as solid exports likely continued to support new hiring in Latin America's second largest economy.
The seasonally adjusted unemployment rate was 4.97 percent in May, the national statistics agency said on Friday, which was in line with the reading expected by analysts and just down from the 4.98 percent rate in April.
Modest economic expansion in the United States has helped shrink the jobless rolls in Mexico by supporting exports. The jobless rate still remains well above levels seen before the 2008-2009 recession.
The raw jobless rate was 4.83 percent in May, its lowest since March. Analysts had expected that figure to drop to 4.80 from 4.86 percent in April.
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