The unemployment rate in Mexico increased to 3.5 percent in May 2019 from 3.2 percent in the corresponding month of the previous year, in line with market expectations. The jobless rate was slightly higher for women (3.6 percent from 3.2 percent in May 2018) than for men (3.5 percent from 3.3 percent). In May, about 16 percent of unemployed did not have a full secondary education while 83.9 percent had a higher education. Meantime, the activity rate went up to 60.2 percent from 60.1 percent a year ago. When adjusted for seasonality, the jobless rate stood at 3.5 percent, unchanged from the previous month. 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.
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 3.70 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.