2014.09.2213:34:00UTC+00Mexico Labor Market Will Likely Remain unpressured until End of 2015

Quotes from Barclays Capital:
- Mexico's unemployment rate was 4.9% in August in seasonally adjusted figures. This number was lower than consensus (Barclays: 5.1%, consensus: 5.05%), probably pushed by a reduction in the participation rate. 
- The labor market will likely remain unpressured until the end of 2015. The 3-month average of the seasonally adjusted rate, reached 5.0% in August and suggesting that there has not been an improvement in the past three months, although the economy has performed better and formal employment continues to grow. 
- We believe that this performance will keep (core) inflation under control during the rest of the year, confirming Banxico's view that the economy maintains an important level of slack. 
- Finally, we expect the economy to continue recovering but rather modestly, and unemployment will likely consolidate 4.0% figures until Q4 15, still above pre-crisis levels.