The unemployment rate in Mexico edged down to 3.3 percent in November 2018 from 3.4 percent in the same month of the previous month and slightly below market expectations of 3.4 percent. Among genders, the unemployment rate decreased for women (3.4 percent from 4 percent in November 2017) while it rose for men (3.2 percent from 3.1 percent). In November, about 18.2 percent of unemployed people did not have a full secondary education while 81.8 percent had a higher education. Meantime, the activity rate went up to 60.0 percent from 59.5 percent in November 2017. When adjusted for seasonality, the jobless rate increased to 3.3 percent from 3.2 percent in the prior month, but below market consensus of 3.4 percent. Unemployment Rate in Mexico averaged 3.76 percent from 1994 until 2018, 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.
Unemployment Rate in Mexico is expected to be 3.10 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 3.60 in 12 months time. In the long-term, the Mexico Unemployment Rate is projected to trend around 3.60 percent in 2020, according to our econometric models.