The unemployment rate in Mexico edged down to 5.2 percent in August of 2020 from 5.4 percent in July, but remained at levels not seen 2014, due to the coronavirus crisis. Figures confirmed the labor market continued to recover, although slower than in the previous month, amid the gradual reopening of businesses and companies in non-essential economic activities. Between July and August 2020, there were increases in both active population (53.2 million compared to 52.6 million in July) and employment (50.4 million compared to 49.7 million) while the number of unemployed people was nearly unchanged at 2.8 million. A year earlier, the jobless rate was much lower at 3.7 percent.
Unemployment Rate in Mexico averaged 3.76 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 October of 2020. source: Instituto Nacional de Estadística y Geografía (INEGI)
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 5.00 in 12 months time. In the long-term, the Mexico Unemployment Rate is projected to trend around 4.70 percent in 2021 and 4.50 percent in 2022, according to our econometric models.