UPDATE 1-Mexico jobless rate rises in Oct from nearly 4-year low

Fri Nov 23, 2012 9:32am EST

Related Topics

* Jobless rate rises to 4.83 pct, above 4.7 pct in Reuters poll

* Adds to signs of slowing growth in fourth quarter

MEXICO CITY Nov 23 (Reuters) - Mexico's jobless rate rose in October, edging up after falling to its lowest in nearly four years in the previous month, in a sign the economy is slowing at the end of the year.

The seasonally adjusted unemployment rate rose more than expected to 4.83 percent last month, the national statistics agency said on Friday.

October's result was above the 4.70 percent expected in a Reuters poll and higher than the previous month's upwardly revised 4.68 percent jobless rate.

Unemployment has fallen back from rates near 6 percent seen during a deep recession in 2009, but there is no sign that a tighter labor market is pressuring inflation, which has been running above the central bank's 4 percent limit since June.

Economic growth in Latin America's second-largest economy moderated in the third quarter and economists expect fourth-quarter activity to be affected by weaker global demand, although the finance ministry still expects an expansion of 3.5 percent to 4 percent over the year.

The headline unadjusted rate was 5.04 percent in October, above the 4.81 percent expected in the poll.

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