Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Latest available data for a fixed period, "Unemployed Population as Share of Economically Active Population in Mexico from January 2019 to September 2021. See here for a complete list of exchanges and delays. The unemployment rate for men was 3.9% and 3.7% for women. [Online]. Number of Unemployed Persons in Mexico decreased to 1796103 Persons (1.796 Million Persons) in the forth quarter of 2022. Estimates for the current month are subject to revision the following month . Mexico unemployment rate for 2021 was 4.38%, a 0.07% decline from 2020. That number left the state tied for 27 th place in the national rankings, as the jobless rate in New Mexico was just a tick higher than the U.S. rate of 3.4%, which was the lowest rate registered . The Mexican policymakers recently approved the 2023 budget criteria, where they also refreshed the outlook for 2022.7 The budget continues to favor fiscal austerity, aiming to deliver a largely balanced primary budget of 0.1% of the GDP for this year and a small deficit of 0.2% for 2023 (figure 3). ", The survey also covers the sector of the population engaged in informal labor. Chart. Show publisher information The Mexican unemployment rate decreased to 2.8 percent in December of 2022 from 3.5 percent in the corresponding period a year ago. BBVA Research, Mexico | Inflation 2021, how it affects and what can be done, April 12, 2022. Mara Jos Goytia, US, Canada Request Consultations with Mexico under USMCA, Mexico Business News, July 22, 2022. He is also in charge of all the databases. In the first phase of the pandemic, the demand for goods soared and for services collapsed. The INEGI survey indicates that the EAP totaled 60.4 million people in October this year. Current job openings: Download historical data for 20 million indicators using your browser. ", INEGI includes in this population "those who are vulnerable due to the nature of the economic unit for which they work, as well as people whose labor link or dependency does not recognize their source of work. INEGI. February 2023 Data - 1994-2022 Historical - March Forecast, Instituto Nacional de Estadstica y Geografa (INEGI), Mexican Peso Weakens Sharply Against the Dollar, Mexico Industrial Output Rises More than Expected, Mexico Inflation Rate Drops to Near 1-Year Low, Mexican Consumer Confidence at 15-Month High, Mexico Private Investment Growth Tops Forecasts, Mexico Jobless Rate Falls to 3% in January, Below Estimates, Mexico Factory Activity Recovers in February, Mexico Current Account Surplus Widens in Q4, Wall Street Rattles As First Republic Sinks, Spain Stocks Weekly Decline Largest in Over a Year, French Stocks End in the Red, Book Weekly Loss, European Stocks End Week on Negative Note, South African Stocks End Lower, Post Sharp Weekly Loss, FTSE 100 Closes Near Four-Month Lows, Posts Sharpest Weekly Decline Since February 2022. Also, services that are highly correlated with international fuel prices (such as airfares) have also seen sharp price increases. ", Sign In or Register to leave a comment, use the forums and more, I have already subscribed | Do not show this message again. ", Also in this group are "personnel working in unregistered microenterprises or in the informal sector, the self-employed in subsistence agriculture and those working without social security and whose services are used by registered economic units. Use Ask Statista Research Service, COVID-19 vaccine dose rate worldwide by select country or territory February 20, 2023, Coronavirus (COVID-19) cases, recoveries, and deaths worldwide as of Feb. 28, 2023, COVID-19 cases in Latin America 2023, by country, Cumulative cases of COVID-19 worldwide from Jan. 22, 2020 to Feb. 26, 2023, by day. In the fourth quarter of 2022, the labor participation rate in Ciudad de Mxico was 62.6%, which implied an increase of 1.58 percentage points compared to the previous quarter (61%). It remained the lowest reading since December 2005, as the employed population increased by 1 million to 57.95 million persons, while those unemployed decreased by 427 thousand to 1.7 million. World Bank. Reuters, Remittances to Mexico again break record on back of strong U.S. labor market, September 2, 2022. The unemployed population decreased by 0.333 million to 1.8 million, while those employed increased by 2.8 million to 58.4 million persons. Use this code to embed the visualisation into your website. Also, employment has increased significantly in the north and center-north of the country, where most of the manufacturing is based. by However, we forecast a slowdown to hit the Mexican economy next year, with growth expected to slip down to 1.5%. Reading performance (PISA), Mean score, 2018 "The unemployed male population went from 1.4 to 1.2 million people from October 2021 to October 2022. On Monday, the New Mexico Department of Workforce Solutions released January's unemployment rate, which . That year, urban population whose age ranged between 35 and 44 years had the lowest open. [Online]. Sam Shead, Electronics are set to get even more expensive as chip giants hike their prices, CNBC, May 24, 2022. During December, the population employed in working days of 35 to 48 hours a week increased by 424,000 people. Moreover, supplies of some key grains and fertilizers were disrupted, and consumer food prices accelerated worldwide.14 In Mexico, processed food prices (included in core inflation) went from an annual increase of 5% in January 2021 to 15.2% in September 2022. Mexico unemployment rate for 2020 was 4.45%, a 0.97% increase from 2019. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. What you should know about UI Show publisher information The Deloitte Global Economist Network is a diverse group of economists that produce relevant, interesting and thought-provoking content for external and internal audiences. Our Standards: The Thomson Reuters Trust Principles. Data published Monthly by National Institute of Statistics and Geography. Unemployed population as share of economically active population in Mexico from January 2019 to September 2021 [Graph]. The downward variation of 12 million economically active people compared to March was maintained, due to the temporary work suspension caused by the social distancing measures, INEGI said. Accessed March 18, 2023. https://www.statista.com/statistics/1339727/unemployment-rate-state-mexico/, INEGI. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. The unemployment rate was slightly higher than the previously recorded month in December 2021, when about 5.8 percent of the state's workforce remained jobless. Profit from the additional features of your individual account. The female population went from 881 to 842 thousand people in the same period. On Monday, the New Mexico Department of Workforce Solutions released January's unemployment. ARGENTINA VS BRAZIL VS NORWAY VS DENMARK VS MEXICO VS FINLAND ETC UNEMPLOYMENT COMPARISON #shorts COUNTRIES: ARGENTINA VS BRAZIL VS NORWAY VS DENMARK VS S. Comparatively, New Mexico's unemployment rate in January was slightly higher than the national average of 3.4%. INEGI. He has experience in macroeconomic variable analysis, as in the financial and fiscal areas. Learn more about how Statista can support your business. Pierre-Olivier Gourinchas, Policymakers need steady hand as storm clouds gather over global economy, IMF Blog, October 11, 2022. statistic alerts) please log in with your personal account. Please see www.deloitte.com/about to learn more about our global network of member firms. The maximum rate was 6.42 % and minimum was 2.22 %. The New Mexico Department of Workforce Solutions is a World-Class, market-driven workforce delivery system that prepares New Mexico job seekers to meet current and emerging needs of New Mexico businesses; and insures that every New Mexico citizen who needs a job will have one; and every business who needs an employee will find one with the necessary skills and work readiness to allow New . See Terms of Use for more information. The open unemployment rate in Mexico amounted to 5.5 percent in June 2020, a 1.3 percentage point increase compared to a month earlier. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. "Mexico: Unemployment rate from 1999 to 2021." The report also states 68. The Employed Population reached 58.4 million people, representing 96.7 percent of the EAP, according to INEGI this sector is a percentage of the population 15 years old and over. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. After comparing the November-December 2018's unemployment rate, this has higher than the one from the same period in 2017, which was 7%. In closing, Mexico has a golden opportunity in the form of nearshoring, as it could drive investments, exports, and overall economic growth, especially in the manufacturing sector. 2) Interest rates will remain high, putting pressure on borrowing costs and dampening private sector credit. Inflation is expected to come down in 2023from 8.5% at end-2022 to 5.0% at end-2023. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Fitch Ratings, Mexico budget GDP assumptions optimistic, revenue forecasts more prudent, September 16, 2022. Note: Rates shown are a percentage of the labor force. Business Solutions including all features. Accessed March 18, 2023. https://www.statista.com/statistics/263702/unemployment-rate-in-mexico/, World Bank. The Networks industry and economics expertise allows us to bring sophisticated analysis to complex industry-based questions. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information He holds a masters degree in economic development from the Universidad Nacional Autnoma de Mxico (UNAM). We have a plan for your needs. "Monthly unemployment rate in Mexico from January 2020 to August 2022." The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information Those higher-than-expected revenues will be mainly focused on maintaining social spending (figure 4). As of Q2 2022, manufacturing production in Baja California was almost 30% above its 5-year average (2015-2019); in Chihuahua it was 18% higher; in Sinaloa 17% higher, and in Nuevo Leon and Michoacan it was 16% higher. Advanced users can use our Python/R/Matlab packages. 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