The Mexican unemployment rate fell to 2.5% in February 2024 from 2.7% in the corresponding period a year ago, coming below market expectations of 2.8%. The number of unemployed people declined by 137 thousand to 1.5 million and the number of employed increased by 1.1 million to 59.4 million. The economically active population rose by 917 thousand to 60.9 million, which resulted in a participation rate of 60.2%. Seasonally adjusted, the unemployment rate edged down to 2.6% from 2.8% in February 2023. source: Instituto Nacional de Estadística y Geografía (INEGI)

Unemployment Rate in Mexico decreased to 2.50 percent in February from 2.90 percent in January of 2024. Unemployment Rate in Mexico averaged 3.73 percent from 1994 until 2024, 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 April of 2024.

Unemployment Rate in Mexico decreased to 2.50 percent in February from 2.90 percent in January of 2024. Unemployment Rate in Mexico is expected to be 3.30 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 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-29 12:00 PM
Unemployment Rate
Jan 2.9% 2.6% 2.8% 2.7%
2024-03-27 12:00 PM
Unemployment Rate
Feb 2.5% 2.9% 2.8% 3.0%
2024-04-26 12:00 PM
Unemployment Rate
Mar 2.5% 2.4% 2.5%


Related Last Previous Unit Reference
Employed Persons 59403947.00 59167472.00 Dec 2023
Employment Rate 97.55 97.15 percent Feb 2024
Labor Force Participation Rate 60.17 59.77 percent Feb 2024
Labour Costs 151.30 231.90 points Jan 2024
Productivity 108.90 105.60 points Jan 2024
Unemployed Persons 1639021.00 1825196.00 Dec 2023
Unemployment Rate 2.50 2.90 percent Feb 2024
Wages in Manufacturing 4.30 4.10 USD/Hour Feb 2024

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
2.50 2.90 6.42 2.22 1994 - 2024 percent Monthly
NSA

News Stream
Mexico Unemployment Lowest Since March 2023
The Mexican unemployment rate fell to 2.5% in February 2024 from 2.7% in the corresponding period a year ago, coming below market expectations of 2.8%. The number of unemployed people declined by 137 thousand to 1.5 million and the number of employed increased by 1.1 million to 59.4 million. The economically active population rose by 917 thousand to 60.9 million, which resulted in a participation rate of 60.2%. Seasonally adjusted, the unemployment rate edged down to 2.6% from 2.8% in February 2023.
2024-03-27
Mexico Unemployment Rate Above Expectations
The Mexican unemployment rate fell to 2.9% in January 2024 from 3% in the corresponding period a year ago, missing market expectations of 2.8%. The number of unemployed people declined by 75 thousand to 1.7 million and the number of employed increased by 552 thousand to 58.9 million. The economically active population rose by 478 thousand to 60.6 million, which resulted in a participation rate of 59.8%. Seasonally adjusted, the unemployment rate remained unchanged at 2.8%.
2024-02-29
Mexico Unemployment Rate Drops in December
The Mexican unemployment rate fell to 2.6% in December 2023 from 2.8% in the corresponding period a year ago, aligning with market expectations. It was the lowest reading since March, as the number of unemployed people declined by 59 thousand to 1.6 million and the number of employed increased by 1.2 million to 59.1 million. The economically active population rose by 1.1 million to 60.7 million, which resulted in a participation rate of 59.9%. Seasonally adjusted, the unemployment rate remained unchanged at 2.8%.
2024-01-25