Unemployment in Mexico
From 2013 to 2022, Mexico's unemployment rate experienced fluctuations reflecting changing economic conditions. Early in the decade, the rate was moderately low, benefiting from industrial growth and foreign investment. However, structural issues, such as underemployment and informal labor markets, remained concerns. The COVID-19 pandemic in 2020 caused a significant spike in unemployment, but strong post-pandemic economic growth saw the unemployment rate fall to around a two-decade low in 2022.
The unemployment rate averaged 4.0% in the decade to 2022, below the 8.2% average for Latin America. The unemployment rate in Mexico in 2022 was 3.3%. For more unemployment information, visit our dedicated page.
Mexico Unemployment Chart
Note: This chart displays Unemployment Rate for Mexico from 2022 to 2021.
Source: Macrobond.
Mexico Unemployment Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Unemployment (% of active population, aop) | 3.5 | 4.4 | 4.1 | 3.3 | 2.8 |
| Unemployment (% of active population, eop) | 2.9 | 3.8 | 3.5 | 2.8 | 2.6 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Mexican unemployment projections for the next ten years from a panel of 24 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable unemployment forecast available for Mexican unemployment.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Mexican unemployment projections.
Want to get access to the full dataset of Mexican unemployment forecasts? Send an email to info@focus-economics.com.