The unemployment rate in Mexico rose to 3.4 percent in December 2018 from 3.1 percent in the same month of the previous year and above market expectations of 3.3 percent. Among genders, the jobless rate increased for both women (3.2 percent from 3.0 percent in December 2017) and men (3.4 percent from 3.2 percent). In December, about 16.5 percent of unemployed people did not have a full secondary education while 83.5 percent had a higher education. Meantime, the activity rate went up to 59.5 percent from 59.1 percent in December 2017. When adjusted for seasonality, the jobless rate advanced to 3.6 percent from 3.4 percent in the previous month. Unemployment Rate in Mexico averaged 3.76 percent from 1994 until 2018, reaching an all time high of 6.42 percent in September of 2009 and a record low of 2.22 percent in March of 1997.
Unemployment Rate in Mexico is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Mexico to stand at 3.40 in 12 months time. In the long-term, the Mexico Unemployment Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.