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UPDATE 1-Mexico June unemployment rate edges up to 3.26 pct

Fri Jul 20, 2007 3:53pm EDT

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MEXICO CITY, July 20 (Reuters) - Mexico's jobless rate was a lower-than-expected 3.26 percent in June, the government said on Friday, but it was higher than May's 3.23 percent.

A Reuters survey of analysts had forecast an unemployment rate MXUNR=ECI of 3.42 percent for the month.

Mexico's economy grew 4.8 percent last year but is only expected to expand 3.6 percent this year as U.S. economic growth slows, affecting Mexican exports to 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.



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