The Day at a Glance | February 20 2023

*The INEGI made its 4Q22 National Occupancy and Employment Survey public.

*In the US, January`s leading indicator logged its tenth consecutive negative figure as it set at -0.3 units.

*China maintained its interest rate unchanged for a sixth consecutive month: The yearly rate remained at 3.65% and the 5-year rate remained at 4.30%.

*Construction figures in the Eurozone showed a monthly -2.5% setback during December. Civil engineering activities decreased -4.0%, while the construction of buildings dropped -2.5%.

*During his surprise visit to Kyiv this Monday, Biden committed himself to aiding Ukraine for as long as necessary. Additionally, the US President promised additional weapons worth 500 million dollars. 

Economic environment

On Monday, the National Institute of Statistics and Geography (INEGI for its initials in Spanish) released the National Survey of Occupation and Employment, new edition (ENOE N) for the 4Q22.This edition provides estimates for four sizes of localities at the national level. Regarding general figures, the document indicates that the unemployment rate in the last quarter of last year set at 3.0% (around 1.8 million people), which represents a decrease from the 3.7% observed in the same period of 2021. In addition, the Economically Active Population closed the 4th quarter of 2022 with 60.1 million people, equivalent to 60.4% of the population aged 15 and over, indicating an increase of 1.4 million or 0.8 percentage points (pp) compared to the 4th quarter of 2021. Labor informality figures logged a 548 thousand person increase with respect to the same period of 2021, equivalent to 55.1% of the employed population in relative terms, and -0.7pp to 55.8% in the 4Q22. Lastly, by state, Guerrero recorded the lowest rate of unemployment (0.8%); while Mexico City and the State of Mexico recorded the largest rates – 4.5% in both.