Likewise, the unemployment rate for March is the lowest since 2020, when in the same month of March it stood at 3.32%, just before the health emergency due to COVID-19. Despite the decrease, the pre-pandemic level of employment has not yet been fully reached.
Compared to March 2021, the unemployed population in the country decreased by 425,000 people; that is, it was lower by .9 percentage points.
Informality rate
In March, the population employed in labor informality was 31.6 million people and the Labor Informality Rate was 55.8% of the employed population, .9 percentage points lower than that of the third month of 2021.
For its part, the underemployed population decreased .6 percentage points, at a monthly rate, to stand at 8.9% of the EAP, which was 58.4 million people.
The underemployed population refers to those who have a job, but who stated that they needed and were available to work more hours.
