UPDATE 1-Mexico unemployment rate down to 3.23 pct in May - govt

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MEXICO CITY, June 21 (Reuters) - Mexico's jobless rate was 3.23 percent in May, the government said on Thursday, lower than last month's 3.30 percent.

A Reuters survey of analysts had forecast an unemployment rate MXUNR=ECI of 3.68 percent for the month.

Mexico's economy grew 4.8 percent last year but is only expected to grow 3.6 percent this year as the U.S. economy slows down, affecting Mexican imports into its No.1 market.

The unemployment number is considered an inaccurate picture of Mexico's rate of joblessness because of how it is measured, but analysts sometimes refer to it to gauge possible changes in consumer demand.