The unemployment rate in Mexico fell to 2.9 percent in March 2020 from 3.2 in the corresponding month of the previous year. The jobless rate dropped for both men (2.9 percent from 3.2 percent) and women (3.0 percent from 3.4 percent). Among unemployed people, 14 percent had not completed secondary education while 86 percent had a higher education. Meantime, the participation rate went down to 59.8 percent from 60.0 percent a year earlier. When adjusted for seasonality, the jobless rate declined to 3.3 percent from 3.7 percent in February.
Unemployment Rate in Mexico averaged 3.74 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 September of 2020. source: Instituto Nacional de Estadística y Geografía (INEGI)
Unemployment Rate in Mexico is expected to be 5.90 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 6.00 in 12 months time. In the long-term, the Mexico Unemployment Rate is projected to trend around 5.90 percent in 2021 and 4.50 percent in 2022, according to our econometric models.