The unemployment rate in Mexico dropped to 4.7 percent in October of 2020 from 5.1 percent in the previous month and below market expectations of 5 percent, still remaining at levels not seen since 2014. Figures confirmed the labor market continued to recover amid the ongoing reopening of businesses following coronavirus lockdown restrictions. Between September and October 2020, there were increases in both active population (55.6 million compared to 53.8 million in September) and employment (53 million compared to 51.1 million) while the number of unemployed people fell by 129 thousand to 2.6 million. A year earlier, the jobless rate was much lower at 3.6 percent. source: Instituto Nacional de Estadística y Geografía (INEGI)
Unemployment Rate in Mexico averaged 3.77 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 December of 2020.
Unemployment Rate in Mexico is expected to be 5.40 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 4.90 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.