"MEXICO CITY, Oct 19 (Reuters) - Mexico's jobless rate was a slightly lower-than-expected 3.87 percent in September, the government said on Friday, below August's 3.92 percent."
This is a recurrent eyebrow raising news story, especially when considering the US or European unemployment rates way above 6 %.
I have been doing a lot of construction in Catemaco, and have had upward of 20 people working for me at one time. Usually I employ 1 to 4 to keep land clear, do minor remodeling and chores.
My main man, now almost 5 years with me, earns 650 pesos cash weekly, plus lots of bennies, about 800 pesos a week.
Part time workers I hire at 550 pesos a week, no bennies, for a 5 1/2 day work week.
To the Maestro de Albañileria (no clear interpretation - essentially bricklayer and construction foreman) I am now paying 1200 pesos per week. This is the same kid that I started at 450 pesos 5 years ago as an assistant.
The last few weeks I needed about a dozen short term workers to move stuff, chop greens, etc.
I wound up with six. Apparently it is tobacco chopping season which pays the glorious sum of 450 pesos per week (no bennies), slightly above the Mexican minimum wage, but the work lasts for several weeks.
None of these occasional workers have unemployment insurance or are registered at any office that maintains statistics in Mexico.
The Mexican unemployment statistics are based on contributors to the IMSS (social security system), which covers less than 30% of official Mexican workers, and includes mostly larger enterprises, such as Ford de Mexico, and numerous smaller companies who paid insufficient bribes to be taxed.
3.87 % is a lie, try 25 %.
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