The unemployment rate in Mexico increased to 3.7 percent in August 2019 from 3.5 percent in the same month of the previous year and matching market expectations. The jobless rate advanced for men (3.9 percent from 3.2 percent in August 2018) while fell for women (3.6 percent from 3.9 percent). In August, about 13 percent of unemployed did not have a full secondary education while 87 percent had a higher education. Meantime, the activity rate rose to 60.4 percent from 60 percent a year earlier. When adjusted for seasonality, the jobless rate was at 3.6 percent, unchanged from the prior month. Unemployment Rate in Mexico averaged 3.75 percent from 1994 until 2019, 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 3.60 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 3.70 in 12 months time. In the long-term, the Mexico Unemployment Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.