The unemployment rate in Mexico fell to 2.9 percent in December 2019 from 3.4 percent in the same month of the previous year and below market expectations of 3.5 percent, reaching its lowest since March 2018. The jobless rate dropped for both men (3.0 percent from 3.4 percent) and women (2.7 percent from 3.2 percent). Among unemployed people, 16.5 percent had not completed secondary education while 83.4 percent had a higher education. Meantime, the participation rate rose to 60.2 percent from 59.5 percent a year earlier. When adjusted for seasonality, the jobless rate went down to 3.1 percent from 3.5 percent in November. Unemployment Rate in Mexico averaged 3.75 percent from 1994 until 2019, 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. source: Instituto Nacional de Estadística y Geografía (INEGI)

Unemployment Rate in Mexico is expected to be 3.60 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 3.80 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.

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Mexico Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.90 3.40 6.42 2.22 1994 - 2019 percent Monthly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-10-22 11:00 AM Unemployment Rate Sep 3.8% 3.7% 3.8% 3.8%
2019-11-27 12:00 PM Unemployment Rate Oct 3.6% 3.8% 3.8% 3.6%
2019-12-24 12:00 PM Unemployment Rate Nov 3.5% 3.6% 3.5% 3.6%
2020-01-21 12:00 PM Unemployment Rate Dec 2.9% 3.4% 3.5% 3.5%
2020-02-27 12:00 PM Unemployment Rate Jan 2.9% 3.4%


News Stream
2019-12-24
Mexico Jobless Rate Rises to 3.5% in November
The unemployment rate in Mexico increased to 3.5 percent in November 2019 from 3.3 percent in the corresponding month of the previous year and in line with market expectations. The jobless rate went up for men (3.3 percent vs 3.2 percent in November 2018) and women (3.7 percent vs 3.5 percent). Meantime, the activity rate rose marginally to 60.2 percent from 59.7 percent a year earlier.

2019-11-27
Mexico Jobless Rate Rises to 3.6% in October
The unemployment rate in Mexico increased to 3.6 percent in October 2019 from 3.2 percent in the corresponding month of the previous year but below market expectations of 3.8 percent. The jobless rate went up for men (3.7 percent vs 3.0 percent in October 2018) while it remained unchanged for women (at 3.6 percent). In October, about 16.2 percent of unemployed did not have a full secondary education while 83.7 percent had a higher education. Meantime, the activity rate rose marginally to 60.2 percent from 59.3 percent a year earlier. When adjusted for seasonality, the jobless rate edged up to 3.6 percent from 3.5 percent in the prior month.

2019-10-22
Mexico Jobless Rate Falls to 3.8% in September
The unemployment rate in Mexico rose to 3.8 percent in September 2019 from 3.6 percent in the corresponding month of the previous year and matching market expectations. The jobless rate increased for men (3.8 percent from 3.4 percent) while dropped for women (3.8 percent from 3.9 percent). In September, about 16.3 percent of unemployed did not have a full secondary education while 83.7 percent had a higher education. Meantime, the activity rate went up to 60.1 percent from 59.5 percent a year earlier. When adjusted for seasonality, the jobless rate was at 3.5 percent, lower than a 3.6 percent in August.

2019-09-25
Mexico Jobless Rate Rises to 3.7% in August
The unemployment rate in Mexico increased to 3.7 percent in August 2019 from 3.5 percent in the same month of the previous year and matching market expectations. The jobless rate advanced for men (3.9 percent from 3.2 percent in August 2018) while fell for women (3.6 percent from 3.9 percent). In August, about 13 percent of unemployed did not have a full secondary education while 87 percent had a higher education. Meantime, the activity rate rose to 60.4 percent from 60 percent a year earlier. When adjusted for seasonality, the jobless rate was at 3.6 percent, unchanged from the prior month.

2019-08-27
Mexico Jobless Rate at Near 3-Year High of 3.7%
The unemployment rate in Mexico rose to 3.7 percent in July 2019 from 3.5 percent in the same month of the previous year. That was the highest jobless rate since October 2016. The jobless rate went up for both women (4.0 percent vs 3.8 percent in July 2019) and men (3.5 percent vs 3.3 percent). In July, about 13.4 percent of unemployed did not have a full secondary education while 86.5 percent had a higher education. Meantime, the activity rate increased to 60.5 percent from 59.7 percent a year ago. When adjusted for seasonality, the jobless rate came in at 3.6 percent, unchanged from the previous month.

2019-07-29
Mexico Jobless Rate Rises to 3.6% in June
The unemployment rate in Mexico rose to 3.6 percent in June 2019 from 3.4 percent in the same month of the previous year and slightly above market expectations of 3.5 percent. The jobless rate went up for women (3.6 percent from 3.3 percent in June 2019) while was steady for men (at 3.5 percent). In June, about 16.1 percent of unemployed did not have a full secondary education while 83.8 percent had a higher education. Meantime, the activity rate increased to 60.5 percent from 59.8 percent a year earlier. When adjusted for seasonality, the jobless rate came in at 3.5 percent, unchanged from the previous month.


Mexico Unemployment Rate
In Mexico, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Mexico Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.90 3.40 6.42 2.22 percent [+]
Employed Persons 55201939.00 54936719.00 55201939.00 37970852.00 [+]
Unemployed Persons 2147638.00 2014496.00 3012574.00 915418.00 [+]
Labor Force Participation Rate 60.20 60.20 61.47 58.18 percent [+]
Labour Costs 97.40 96.20 130.60 71.50 points [+]
Productivity 93.60 90.50 104.70 85.00 points [+]
Wages 378.13 375.78 380.72 129.28 MXN/Day [+]
Wages in Manufacturing 2.60 2.60 3.80 2.00 USD/Hour [+]
Minimum Wages 123.22 102.68 123.22 0.01 MXN/Day [+]
Population 125.33 124.04 125.33 38.68 Million [+]
Retirement Age Women 65.00 65.00 65.00 65.00 [+]
Retirement Age Men 65.00 65.00 65.00 65.00 [+]
Wages Low Skilled 5390.00 5280.00 5390.00 4870.00 MXN/Month [+]
Wages High Skilled 17200.00 15600.00 17200.00 13700.00 MXN/Month [+]
Living Wage Family 7900.00 7700.00 7900.00 7700.00 MXN/Month [+]
Living Wage Individual 4320.00 4130.00 4320.00 4130.00 MXN/Month [+]
Employment Rate 97.09 96.56 97.23 93.58 percent [+]