Unemployment rate decreases as thousands of jobs createdBusiness Cancun Mexico 

Unemployment rate decreases as thousands of jobs created

Cancun, Q.R. — The unemployment rate in Mexico saw a slight decrease in August, bringing it to its lowest point in a similar month since 2005.

According to seasonally adjusted figures from the National Institute of Statistics and Geography (INEGI), the unemployment rate in August was lower than that reported in the same month last year at 3.74 percent. The unemployment rate for August 2017 stands as the lowest for a similar month since 2005.

Figures reported by INEGI are gathered by percentage of the Economically Active Population (EAP) in Mexico. Similarly, the results of the National Survey of Occupation and Employment (ENOE) reveals that 26.69 percent of those employed are in the labor force and is the highest rate in two months.

In the state of Quintana Roo, Governor Carlos Joaquín González says more than 12,000 jobs have been created so far in 2017, adding that taking tourist activity and insecurity into consideration, the state maintained an average occupancy rate above 80 percent.

Joaquín González says that at the moment there is growth in the supply of new hotel rooms with a total of 10,000 new rooms for the municipalities of Benito Juárez, Isla Mujeres, Solidaridad and Puerto Morelos. He adds that these projects have the variant of new specialized niches.

The governor explained that from the beginning of his administration many tourism mega projects were nearly inoperative because of the issue of extreme debt in which the state was sunk. “We have been recovering and officials have been working directly with banks and projects. They are the ones also working tourism and project promotion,” he said adding that when the tourism “warning” was issued by the US government earlier this year, it had some impact related mostly to North American visitors, but is recoverable.

He explained that many of those travelers were redirected to places like Dominican Republic and Puerto Rico instead of Mexico, but now those places have been severely impacted by the recent hurricanes, so businesses and state government will work on promotional strategies to recover those redirected travelers.

He noted that the European, South American and Canadian travel markets were not affected by the US travel advisory.

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