World Economy

Mexico Jobless Rate Falls

Mexico Jobless Rate FallsMexico Jobless Rate Falls

Mexico’s unemployment rate fell to the lowest in almost eight years in March, the latest sign of stronger growth in Latin America’s second-largest economy. The unemployment rate fell to 3.74% in non-seasonally adjusted terms, according to a report published Wednesday by the nation’s statistics agency, known as Inegi. That was below the 3.9% median estimate of 16 analysts surveyed by Bloomberg. Consumer spending, fueled by job growth and rising remittances, is helping support growth amid weakness in sales of manufactured goods to the US and tumbling oil exports that spurred the government to cut public spending.