Mexico’s Jobless Rate Slightly Above Forecast

Mexico’s unemployment rate held steady at 2.7% in January 2026, unchanged year-over-year and slightly above forecasts of 2.6%, with 1.7 million unemployed. The rate was identical for men and women, though women saw a 0.2-point annual decline while men rose 0.1 point. Among the unemployed, 12.6% lacked secondary education, while 87.2% had higher education. The largest share (43.7%) was aged 25–44, followed by 15–24 year-olds (32.8%). Half (50.6%) had been jobless for one month or less, 31.1% for 1–3 months.

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%.