Mexico Unemployment Rate Edges Higher as Expected

Mexico’s unemployment rate stood at 2.4% in December 2025, unchanged from the same period a year earlier and below market expectations of 2.6%. The number of unemployed people totaled 1.5 million. Unemployment among women was higher at 2.6%, compared with 2.2% for men. Individuals without completed lower-secondary education accounted for 11.0% of the unemployed, while those with higher educational attainment represented 88.8%. By age group, unemployment was concentrated among those aged 25–44 years (46.1%), followed by young people aged 15–24 years (33.5%). In terms of duration, 42.9% had been unemployed for one month or less, while 32.6% had been without work for more than one month and up to three months. The underemployment rate stood at 6.2%.

The unemployment rate in Mexico was at 2.7% in November of 2025, inching higher from the 2.6% in the corresponding period of the previous year and in line with market expectations. The number of unemployed individuals rose by 11 thousand from the previous year to 1.64 million. In the meantime, the number of employed individuals fell by 163 thousand to 59.84 million, reflecting some softening in the labor market after the prolonged period of elevated real interest rates by the Bank of Mexico. Hence, the labor force participation rate inched down by 1 percentage point to 59%.

Mexico's unemployment rate fell to 2.6% in October of 2025, inching higher from the 2.5% in the corresponding period of the previous year, but below market expectations of 2.8% to remain firmly below the average of the last six months. The number of unemployed individuals rose by 96 thousand annually to 1.6 million. This was enough to offset the 1 million increase in net jobs to a total employed population of 60.9 million and a 0.3 percentage point drop in the labor force participation rate to 59.9%. The unemployment rate rose by 0.2 percentage points to 2.7% for men, while it fell by 0.1 percentage point to 2.4% for women.