Unemployment fell to 6.7%

 

February 22, 2012

 

The unemployment rate fell in late 2011 to 6.7% from 7.3% in the fourth quarter of 2010 and marked the lowest level since May 1992, reported the National Institute of Statistics and Censuses.

During the last quarter of last year, the applicant underemployment, defined as those who work up to 35 hours per week, and want to work more, amounted to 5.9% from 5.5% in the fourth quarter of 2010.

Meanwhile, the underemployment undemanding down at the end of the fourth quarter of 2011 to 2.6% from 2.8% in October to December last year.

Between the two measurements, the whole economy grew by 8.8%, driven largely by consumption, industry and foreign trade, especially in the first half of 2011.

This rate of 6.7% unemployment is the lowest since 6.9% in May 1992.