The Mexican Unemployment rate decreased to 3.9 percent in October of 2021 from 4.7 percent in the corresponding month of 2020 and slightly below the market expectations of 4.2 percent. It was the lowest jobless rate since March of 2021, as the number of unemployed persons declined by 288 thousand to 2.3 million, while employment increased by 3.6 million persons to 56.4 million, elevating the labor force to a rate of 59.4 percent from 57.5 percent in October of 2020, amid the pandemic. On a seasonally adjusted basis, the unemployment rate remained unchanged at 3.9 percent. source: Instituto Nacional de Estadística y Geografía (INEGI)
Unemployment Rate in Mexico averaged 3.79 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 December of 2021.
Unemployment Rate in Mexico is expected to be 4.20 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 3.80 percent in 2022 and 3.30 percent in 2023, according to our econometric models.