The Day at a Glance | December 28 2022

*The unemployment rate in Mexico dropped to its lowest level in 16 years.

*The Federal Housing Finance Agency`s (FHFA) price index remained unchanged during October.

*The Dallas`s Federal Reserve manufacturing index remained in negative territory for an eighth consecutive month; it logged a -18.8 figure in December.

*Industrial production in Japan logged a -1.3% contraction in November.

*Civilians abandon the port city of Kherson as Russian attacks intensify.

*The use of hospital beds in China has increased due to the Covid-19 wave.

*Putin signed a decree to prohibit Russian oil exports to countries that adhere to the price cap for five months. This will come into effect on February 1st.

Economic environment

November`s unemployment rate decreased to 2.8% of the economically active population. The most recent figure, which is the lowest recorded since 2006, surprised as it set below the consensus` expected 3.2%. With this, the unemployment rate set at 1.7 million people, which compares with the 2.1 million logged in the same period of last year. The National Occupancy and Employment Survey (ENOE for its initials in Spanish) also specified that the economically active population set at 60.5 million people, with a 60.8% participation rate – from the 58.6 million people and a 59.6% participation rate logged in November of 2021. Lastly, the rate of under-employment set at 7.6% – vs 10.5% a year ago; while the level of informality in the labor market set at 55.2% – vs 55.6% in November of 2021.