The unemployment rate in Mexico rose to 4.4 percent in February of 2021 from 3.6 percent in the corresponding month of the previous year and matching market expectations, amid the ongoing pandemic crisis. The number of unemployed increased by 362 thousand to 2.4 million while employed fell by 2.7 million to 53 million. Meantime, the labour force decreased by 2.4 million to 55.5 million. Job losses were primarily observed in services (-2.1 million), namely trade (-598 thousand) and restaurants & hotels (-598 thousand). Conversely, the industrial sector added jobs (+99 thousand), amid increases in construction (+138 thousand) and manufacturing (+7 thousand). When adjusted for seasonality, the jobless rate was 4.5 percent, unchanged from the previous month. source: Instituto Nacional de Estadística y Geografía (INEGI)

Unemployment Rate in Mexico averaged 3.78 percent from 1994 until 2021, 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 2021.

Unemployment Rate in Mexico is expected to be 4.50 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 4.70 in 12 months time. In the long-term, the Mexico Unemployment Rate is projected to trend around 4.50 percent in 2022 and 3.90 percent in 2023, according to our econometric models.

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Mexico Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.40 4.70 6.42 2.22 1994 - 2021 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-24 12:00 PM Nov 4.4% 4.7% 4.5% 4.7%
2021-01-21 12:00 PM Dec 3.8% 4.4% 4.3% 4.4%
2021-02-25 12:00 PM Jan 4.7% 3.8% 4%
2021-03-24 12:00 PM Feb 4.4% 4.7% 4.4% 4.5%
2021-04-22 11:00 AM Mar 4.4%
2021-05-27 11:00 AM Apr
2021-06-24 12:00 PM May
2021-07-26 12:00 PM Jun


News Stream
Mexico Jobless Rate Rises to 4.4% in February
The unemployment rate in Mexico rose to 4.4 percent in February of 2021 from 3.6 percent in the corresponding month of the previous year and matching market expectations, amid the ongoing pandemic crisis. The number of unemployed increased by 362 thousand to 2.4 million while employed fell by 2.7 million to 53 million. Meantime, the labour force decreased by 2.4 million to 55.5 million. Job losses were primarily observed in services (-2.1 million), namely trade (-598 thousand) and restaurants & hotels (-598 thousand). Conversely, the industrial sector added jobs (+99 thousand), amid increases in construction (+138 thousand) and manufacturing (+7 thousand). When adjusted for seasonality, the jobless rate was 4.5 percent, unchanged from the previous month.
2021-03-24
Mexico Jobless Rate Rises to 3-Month High of 4.7%
The unemployment rate in Mexico rose to 4.7 percent in January of 2021 from 3.8 percent in the corresponding month of the previous year. It was the highest jobless rate since November 2020, as the number of unemployed people increased by 3.9 million to 9.5 million. The unemployment rate increased for both men (4.8 percent from 3.7 percent) and women (4.6 percent from 4 percent). When adjusted for seasonality, the jobless rate went up to 4.5 percent from 4.4 percent in December.
2021-02-25
Mexico Jobless Rate Falls More than Expected
The unemployment rate in Mexico dropped to 3.8 percent in December of 2020 from 4.4 percent in the previous month and below market expectations of 4.3 percent. It was the lowest jobless rate since March as the labor market continued to recover from the pandemic shock. Between November and December of 2020, the number of unemployed people fell by 331 thousand to 2.1 million while the number of employed decreased by 95 thousand to 52.8 million. At the same time, the labor force declined by 426 thousand to 54.9 million. A year earlier, the jobless rate was much lower at 2.9 percent.
2021-01-21
Mexico Jobless Rate Falls More than Expected
The unemployment rate in Mexico dropped to 4.4 percent in November of 2020 from 4.7 percent in the previous month and below market expectations of 4.5 percent. Figures confirmed the labor market continued to recover amid the ongoing reopening of businesses following coronavirus lockdown restrictions. Between October and November of 2020, the number of unemployed people fell by 191 thousand to 2.4 million while the number of employed stood at 53 million. In contract there was a decrease in active population (55.4 million from 55.6 million in October. A year earlier, the jobless rate was much lower at 3.4 percent.
2020-12-24

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.