The unemployment rate in Mexico dropped to 3.8 percent in December of 2020 from 4.4 percent in the previous month and below market expectations of 4.3 percent. It was the lowest jobless rate since March as the labor market continued to recover from the pandemic shock. Between November and December of 2020, the number of unemployed people fell by 331 thousand to 2.1 million while the number of employed decreased by 95 thousand to 52.8 million. At the same time, the labor force declined by 426 thousand to 54.9 million. A year earlier, the jobless rate was much lower at 2.9 percent. source: Instituto Nacional de Estadística y Geografía (INEGI)
Unemployment Rate in Mexico averaged 3.77 percent from 1994 until 2020, 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. This page provides the latest reported value for - Mexico Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mexico Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Unemployment Rate in Mexico is expected to be 5.20 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 4.70 in 12 months time. In the long-term, the Mexico Unemployment Rate is projected to trend around 4.50 percent in 2022, according to our econometric models.