The unemployment rate in Mongolia increased to 11.8 percent in the first quarter of 2019 from 9.7 percent in the corresponding period of the previous year. It was the highest jobless rate since the series began in 1990, as the number of unemployed persons rose by 30.7 thousand to 153.6 thousand while the number of employed increased by 229 to 1,143 thousand. Among genders, the unemployment rate for men was 12.8 percent and for women it was 10.7 percent. The labor force participation rate was at 60.7 percent. Unemployment Rate in Mongolia averaged 6.92 percent from 1990 until 2019, reaching an all time high of 11.80 percent in the first quarter of 2019 and a record low of 2.80 percent in the fourth quarter of 2007.
Unemployment Rate in Mongolia is expected to be 8.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Mongolia to stand at 8.80 in 12 months time. In the long-term, the Mongolia Unemployment Rate is projected to trend around 5.10 percent in 2020, according to our econometric models.