The Mexican unemployment rate fell to 2.7% in June 2023 from 3.3% in the corresponding period a year ago and below market expectations of 3%. The unemployed population decreased by 0.391 million to 1.6 million, while those employed increased by 1.3 million to 58.7 million persons. The economically active population was 60.3 million, which resulted in a participation rate of 60.1%. Seasonally adjusted, the jobless rate went down to 2.7% in June from 3% in May. source: Instituto Nacional de Estadística y Geografía (INEGI)

Unemployment Rate in Mexico averaged 3.75 percent from 1994 until 2023, 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 August of 2023.

Unemployment Rate in Mexico is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico Unemployment Rate is projected to trend around 3.50 percent in 2024, according to our econometric models.

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Mexico Unemployment Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-06-30 12:00 PM May 2.9% 2.8% 2.8% 2.9%
2023-07-27 12:00 PM Jun 2.7% 2.9% 3% 3.2%
2023-08-31 12:00 PM Jul 2.7% 2.8% 2.6%


Related Last Previous Unit Reference
Unemployment Rate 2.70 2.90 percent Jun 2023
Employed Persons 58492126.00 58349353.00 Mar 2023
Unemployed Persons 1597182.00 1796103.00 Mar 2023
Labor Force Participation Rate 60.12 60.01 percent Jun 2023
Productivity 103.40 108.00 points Jun 2023
Labour Costs 151.60 143.60 points Jun 2023
Wages in Manufacturing 3.90 3.80 USD/Hour Jun 2023
Employment Rate 97.35 97.07 percent Jun 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
2.70 2.90 6.42 2.22 1994 - 2023 percent Monthly
NSA

News Stream
Mexico Jobless Rate Falls More than Expected
The Mexican unemployment rate fell to 2.7% in June 2023 from 3.3% in the corresponding period a year ago and below market expectations of 3%. The unemployed population decreased by 0.391 million to 1.6 million, while those employed increased by 1.3 million to 58.7 million persons. The economically active population was 60.3 million, which resulted in a participation rate of 60.1%. Seasonally adjusted, the jobless rate went down to 2.7% in June from 3% in May.
2023-07-27
Mexico Unemployment Edges Up to 2.9%
The Mexican unemployment rate edged up for the second month to 2.9% in May 2023 from 3.3% in the corresponding period a year ago and slightly above market expectations of 2.8%. The unemployed population decreased by 0.173 million to 1.8 million, while those employed increased by 1.1 million to 58.3 million persons. The economically active population was 60 million, which resulted in a participation rate of 60.2%. Seasonally adjusted, the jobless rate rose to 3% in May from 2.9% in April.
2023-06-30
Mexico Jobless Rate Falls to 20-Year Low of 2.7% in February
The Mexican unemployment rate eased to 2.7% in February 2023 from 3.7% in the corresponding period a year ago and below market expectations of 3.1%. It was the lowest jobless rate since February 2003. The unemployed population decreased by 0.547 million to 1.6 million, while those employed increased by 2.8 million to 58.4 million persons. The economically active population rose by 1.7 million persons to 60 million, which resulted in a participation rate of 60.2%. Seasonally adjusted, the jobless rate edged down to 2.7% in February from 2.9% in the previous month.
2023-03-31