However, another factor has played a role in this: nearshoring. Accessed March 18, 2023. https://www.statista.com/statistics/1108285/mexico-monthly-unemployment-rate/, INEGI. The economic participation rate was 47.4% in May, national statistics agency INEGI said. Daniel Zagais the Economic Analysis leader at Deloitte Mexico. And a year-over-year comparison. For example, for restaurants and other related sectors, inflation ended 2020 at an annual rate of 3.9%, which rose to 6.6% by the end of 2021, and by September 2022, it had reached 10%. Unemployment rate in Mexico 2020-2022. The INEGI survey indicates that the EAP totaled 60.4 million people in October this year. The ideal entry-level account for individual users. 3) Mexican policymakers will continue to favor fiscal austerity, which will do little to catapult growth. After comparing the November-December 2018's unemployment rate, this has higher than the one from the same period in 2017, which was 7%. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information December 22, 2022. He is also the director of D.Econosignal, Mexico. If you are an admin, please authenticate by logging in again. 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. INEGI. Joseph Glauber et al., No end in sight yet for the global food price crisis, International Food Policy Research Institute, September 27, 2022. International Monetary Fund (IMF) Blog, Latest global growth forecasts show challenges facing economies, October 19, 2022. On the upside: 1) Global supply chains continue to show improvement,15 which has already begun to be reflected in merchandise prices. 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. Mara Jos Goytia, US, Canada Request Consultations with Mexico under USMCA, Mexico Business News, July 22, 2022. ", 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. Then you can access your favorite statistics via the star in the header. Change your Analytics and performance cookie settings to access this feature. Over the last five years, the official unemployment rate in Mexican cities has grown by 0.72% to reach 3.8%. Statista. Available: https://www.statista.com/statistics/263702/unemployment-rate-in-mexico/, Mexico: Unemployment rate from 1999 to 2021, Share of economically active population in Mexico Q1 2017 - Q2 2022, by gender, Mexico: employed population share by status 2015-2021, Share of employment in the informal sector in Mexico Q1 2019-Q2 2022, by gender, Undergraduate studies with the highest unemployment rate in Mexio 2021, Mexico: economically active population 2013-2022, Number of dismissals in Mexico Q1 2022, by cause, Unemployed population in Mexico Q2 2022, by age, Unemployed population in Mexico Q2 2022, by cause, Unemployed population in Mexico Q2 2022, by time in unemployment, Unemployed population in Mexico Q2 2022, by educational level, Unemployment rate in Mexico Q2 2022, by state, Unemployment rate in Mexico Q1 2019-Q2 2022, by gender, Urban open unemployment rate in Mexico 2000-2020, by years of schooling, Youth unemployment rate in Mexico in 2021, Urban open unemployment rate in Mexico 2004-2020, by age, Youth NEET rate in Mexico 2010-2021, by gender, Monthly change in employment in Mexico 2020-2022, Change in employment compared to pre-pandemic levels in Mexico July 2022, by state, Change in level of employment in Mexico Q1 2020-Q2 2022, by educational level, Change in level of formal and informal employment in Mexico 2020-2022, Quarterly unemployment rate in France 4th quarter 2021, Monthly unemployment rate in the United Kingdom January 2022, Monthly unemployment rate in Japan September 2022, Unemployment rate in Russia monthly 2020-2022, Peru: monthly unemployment rate in Lima 2019-2021, U.S. unadjusted unemployment rate 2021-2023, Latin America & Caribbean: unemployment rate 2021-2026, by country, Countries with the highest unemployment rate 2021, Monthly unemployment rate in the EU and Euro area 2019-2022, U.S. youth unemployment rate by state in 2012, Mexican motor vehicle parts exports from U.S. 2012-2016, Key figures on Mexican pharmaceutical industry 2016, Unemployment rate of persons aged 15-89 years in Poland 2021-2022, Foreign direct investment in Mexican medical device industry by country 2005-2016, Number of pharmaceutical companies in Mexico 2017, by state, U.S. chemical exports to Mexico 2001-2019, Average price of ski/wakeboard boats in the U.S. 2013, Find your information in our database containing over 20,000 reports, countries with the highest population density. The uptick was mainly driven by robust growth in manufacturing activities and private consumption throughout 2022 (figure 1). At the same time, the economically active population rose by 580 thousand persons to 59.6 million, which resulted in a participation rate of 59.7 percent. In, INEGI. Please see www.deloitte.com/about to learn more about our global network of member firms. 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. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. During December, the population employed in working days of 35 to 48 hours a week increased by 424,000 people. Get full access to all features within our Business Solutions. Organisation for Economic. In August 2022, Mexico's unemployment rate stood at 3.53 percent, continuing the upward trend experienced in the North American country since March of that . You only have access to basic statistics. If this downward trajectory of inflation is fulfilled, the Bank of Mexico (Banxico) could have space to cut the reference rate as of the second half of 2023 and be able to decouple from the Federal Reserve (FED). Our Standards: The Thomson Reuters Trust Principles. (October 22, 2021). statistic alerts) please log in with your personal account. At Deloitte, our purpose is to make an impact that matters by creating trust and confidence in a more equitable society. Figures have been rounded. Mexico's gross domestic product (GDP) grew at an annualized 6.1 percent in second quarter 2021, faster than first-quarter growth of 3.1 percent. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Chart. Further. Mexico unemployment rate for 2018 was 3.28%, a 0.14% decline from 2017. The Mexican unemployment rate eased to 3% in January 2023 from 3.7% in the corresponding period a year ago and slightly below market expectations of 3.1%. Please do not hesitate to contact me. The Mexican unemployment rate eased to 3% in January 2023 from 3.7% in the corresponding period a year ago and slightly below market expectations of 3.1%. Finally, the reactivation of services in the country and the relaxed travel restrictions caused a sudden surge in tourism-related services (flights, hotels, travel packages) (figure 5). The maximum rate was 6.42 % and minimum was 2.22 %. This implies that industrial plants and warehouses that are already installed in Mexico continue to invest further, but the expansion of plants or the installation of new ones is more limited. Inflation is expected to come down in 2023from 8.5% at end-2022 to 5.0% at end-2023. Albuquerque, NM; Farmington, NM; Las Cruces, NM The unemployment rate in January was the lowest it has been since 2007 when data show the unemployment rate as at 3.5% from May through September of that year. Seasonally adjusted, the jobless rate edged down to 2.9% in January from 3% in the previous month. The manufacturing sector, in fact, saw accelerated growth in its entire business line: The imports of intermediate goods grew 20.3% in the first nine months of 2022, compared to the same period in 2021; imports of capital goods, similarly, grew 19.9%; fixed investment in machinery and equipment grew 11.4%; output levels increased by 5.4%; and exports of manufactured goods saw a growth of 17.2%. Irish Examiner, World food prices eased in October despite uncertainty over Ukraine grain shipments, November 4, 2022. Among New Mexico counties, Luna County fared the worst with an 11.1% jobless rate up significantly from the 9.4% rate it posted in October. The economically active population rose by 2.5 million persons to 60.2 million, which resulted in a participation rate of 60.3%. Are you interested in testing our business solutions? Profit from the additional features of your individual account. The youth unemployment rate in Mexico decreased by 0.2 percentage points in 2021 in comparison to the previous year. . 4) The expected slowdown in the United States5 will weigh heavily on Mexico, given the strong trade and investment links between the two countries. 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. We estimate an annual growth of 2.6% for this year (up from 2.1% anticipated previously). Mexicos economy has been hammered by the pandemic, with the International Monetary Fund (IMF) predicting the countrys gross domestic product could shrink by up to 10.5% this year, in what would be its biggest decline since the 1930s. Therefore, this expansion, eleven quarters after the pandemic, marks an important milestone in Mexicos postpandemic recovery process. Please enable JavaScript to view the site. Accessed March 18, 2023. https://www.statista.com/statistics/1339727/unemployment-rate-state-mexico/, INEGI. That year, urban population whose age ranged between 35 and 44 years had the lowest open. to receive more business insights, analysis, and perspectives from Deloitte Insights. Also, services that are highly correlated with international fuel prices (such as airfares) have also seen sharp price increases. Currently, you are using a shared account. 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. "Projections suggest that the unemployment rate in Mexico in 4Q2022 will be 0.5 points higher than before the start of the pandemic," the Organization for Economic Co-operation and Development (OECD) reported in its 'Employment Outlook 2021' analysis. Selected indicators for Mexico Population 129.0 million Growth rate: <%population-growth-rate%>% Income inequality Equality Inequality Education Mathematics 37 /41 Rank 37 /41 Rank CO 2 emissions 3.1 tonnes per capita GDP 19 445 US$ per capita Data service is momentarily unavailable. Show publisher information Although the main manufacturing product in Mexico is motor vehicles and parts (it is still 3% below prepandemic levels), the manufacturing sectors that are driving growth this time around include electrical equipment (22% above January 2020), computer and electronic products (+13.2%), and plastics (+15.6%). NAPS, Nearshore manufacturing: What U.S. companies moving to Mexico need to know, April 22, 2022. General government debt, % of GDP, 2021, Household debt: Data refer to place of residence. Your email has been successfully registered. In light of this, we are expecting a 50 basis points (bps) hike in December 2022, and another 25 bps in the first quarter of 2023. Currently, you are using a shared account. If you are an admin, please authenticate by logging in again. Currently, you are using a shared account. Creating proper conditions to cash-in on this opportunity, thus, becomes critical. Unemployment rate in Mexico Q2 2022, by state Published by Teresa Romero , Oct 19, 2022 In the second quarter of 2022, the south-eastern state of Tabasco was the Mexican federal entity with the. Available: https://www.statista.com/statistics/1339727/unemployment-rate-state-mexico/, Unemployment rate in Mexico in the 2nd quarter 2022, by federal entity, Share of economically active population in Mexico Q1 2017 - Q2 2022, by gender, Mexico: employed population share by status 2015-2021, Share of employment in the informal sector in Mexico Q1 2019-Q2 2022, by gender, Undergraduate studies with the highest unemployment rate in Mexio 2021, Mexico: economically active population 2013-2022, Number of dismissals in Mexico Q1 2022, by cause, Unemployed population in Mexico Q2 2022, by age, Unemployed population in Mexico Q2 2022, by cause, Unemployed population in Mexico Q2 2022, by time in unemployment, Unemployed population in Mexico Q2 2022, by educational level, Unemployment rate in Mexico Q2 2022, by state, Unemployment rate in Mexico Q1 2019-Q2 2022, by gender, Urban open unemployment rate in Mexico 2000-2020, by years of schooling, Youth unemployment rate in Mexico in 2021, Urban open unemployment rate in Mexico 2004-2020, by age, Youth NEET rate in Mexico 2010-2021, by gender, Monthly change in employment in Mexico 2020-2022, Change in employment compared to pre-pandemic levels in Mexico July 2022, by state, Change in level of employment in Mexico Q1 2020-Q2 2022, by educational level, Change in level of formal and informal employment in Mexico 2020-2022, Unemployment rate in Mexico Q1 2019-Q2 2022, U.S. seasonally adjusted unemployment rate 2021-2023, U.S. youth unemployment rate seasonally adjusted 2021-2023, Unemployment rate in selected world regions 2021, U.S. unadjusted unemployment rate 2021-2023, Unemployment rate of foreigners in Mexico 2021, Monthly surveyed urban unemployment rate in China February 2021-2023, Unemployment rate in Spain 2022, by age group, Youth unemployment rate in selected world regions 2020, Unemployment rate in Latin America and the Caribbean 2001-2021, U.S. monthly state unemployment rate December 2022, Unemployment rate in the EU 2022, by country, Find your information in our database containing over 20,000 reports. Although austerity measures are serving Mexico well in a postpandemic world where countries face higher debt and interest burdens,6 the administrations policy priorities and its optimistic economic growth forecasts for 2023 are concerning. To use individual functions (e.g., mark statistics as favourites, set "This is a 1.9 million fewer people than in October 2021. "Mexico: Unemployment Rate from 1999 to 2021. pic.twitter.com/z5s2aaQfVb. Exceptional organizations are led by a purpose. [Online]. "Unemployed population as share of economically active population in Mexico from January 2019 to September 2021." During the second quarter of 2021, inflation breached the Bank of Mexicos (Banxicos) target inflation range of 3%. What you should know about UI The report also states 68. The main attention of policymakers has been focused on price pressures, which are proving quite stubborn. The pandemic caused changes in human activity, as people spent more time at home than outside of it. Use Ask Statista Research Service, Distribution of the workforce across economic sectors in Mexico 2019, Mexico: open unemployment rate per month after COVID-19 2020, Mexico: adults who lost their job due to COVID-19. ", The survey also covers the sector of the population engaged in informal labor. As of August 2022, investment in machinery and equipment in Mexico was already 17.4% above levels seen in January 2020, that is, just before the pandemic hit, and 8.3% higher than in the fourth quarter of 2018, when investments reached their peak. Simply select text and choose how to share it: Email a customized link that shows your highlighted text. The dashboard should have a minimum width of 768px to be displayed properly. ", INEGI, Unemployed population as share of economically active population in Mexico from January 2019 to September 2021 Statista, https://www.statista.com/statistics/1108285/mexico-monthly-unemployment-rate/ (last visited March 18, 2023), Unemployed population as share of economically active population in Mexico from January 2019 to September 2021 [Graph], INEGI, October 22, 2021. World Bank. Another factor supporting the significant recovery in manufacturing is the foreign direct investment (FDI). Mexico unemployment rate for 2020 was 4.45%, a 0.97% increase from 2019. 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. Other sectors, meanwhile, especially those related to domestic production, such as construction and mining, have still not picked up pace. The population employed in labor informality was 32.4 million people. Mexico Unemployment (% of active population, aop) The economy expanded 0.5% quarter on quarter in Q4 according to a second data release, marginally above the flash estimate. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Recently, the United States and Canada requested dispute settlement consultations with Mexico under the United States-Mexico-Canada Agreement (USMCA).9 This is due to Mexico's energy policies, as the United States and Canada say it favors Mexicos state-owned electrical utility. The Mexican unemployment rate eased to 3% in January 2023 from 3.7% in the corresponding period a year ago and slightly below market expectations of 3.1%. In, INEGI. In, World Bank. Organisation for Economic Co-operation and Development, The supply of critical raw materials endangered by Russias war on Ukraine, August 4, 2022. Furthermore, in that three-month time period,. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Fitch Ratings, Mexico budget GDP assumptions optimistic, revenue forecasts more prudent, September 16, 2022. He is also in charge of all the databases. 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%). Social spending imperativessuch as subsidies, flagship programs, and pensionswill increase by 30% in real terms in 2023 with respect to 2022, whereas public investment will rise to 3.4% of GDP in 2022 and 3.6% in 2023, the highest since 2016, thus finally coming out of its historical slump. Hope King, Climate change is a secret driver of inflation, Axios, August 18, 2022. To use individual functions (e.g., mark statistics as favourites, set Accessed March 18, 2023. https://www.statista.com/statistics/263702/unemployment-rate-in-mexico/, World Bank. Richard Partington, Global inflation may be close to its peak, IMF director says, Guardian, November 7, 2022. Mexico unemployment rate for 2019 was 3.48%, a 0.2% increase from 2018. Income inequality, 0 = complete equality; 1 = complete inequality, latest available year, Mathematics performance (PISA), Mean score, 2018 June's unemployment rate was 4.0 percent, slightly lower than the unemployment rate of 4.1 percent in May. 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 . Latest available data for a fixed period, 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. The Networks industry and economics expertise allows us to bring sophisticated analysis to complex industry-based questions. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Mexico economic outlook, December 2022 has been saved, Mexico economic outlook, December 2022 has been removed, An Article Titled Mexico economic outlook, December 2022 already exists in Saved items. 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. Reuters, Remittances to Mexico again break record on back of strong U.S. labor market, September 2, 2022. The Deloitte Global Economist Network is a diverse group of economists that produce relevant, interesting and thought-provoking content for external and internal audiences. Certain domestic policy decisions focused on restricting private participation and expanding the role of the state in certain economic activities, such as energy and mining, represent other downside risks to growth prospects. He holds a masters degree in economic development from the Universidad Nacional Autnoma de Mxico (UNAM). Get full access to all features within our Business Solutions. October 22, 2021. Are you interested in testing our business solutions? These benefits are financed through employers' payroll tax contributions. "The labor informality rate was 55.4 percent of the employed population, 0.2 percentage points lower than in the tenth month of 2021. 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. Also, the expected tax collection is based on the possibility that the economy will expand 3% in 2023, something that seems difficult to achieve at this stage. Data extracted on: March 16, 2023 Source: U.S. Bureau of Labor Statistics Note: More data series, including additional geographic areas, are available through the "Databases & Tables" tab at the top of this page. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. He has experience in macroeconomic variable analysis, as in the financial and fiscal areas. According to data released Tuesday by the New Mexico Department of Workforce Solutions, the unemployment rate came in at 3.9% in December a nearly 15-year low and the lowest rate in 2022.. Reading performance (PISA), Mean score, 2018 To stay logged in, change your functional cookie settings. 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. The 2023 budget dedicates approximately half of its programmable expenditure to social spending and priority investment projects. Nearshoring can also be a driver for Mexico to implement long-due structural changes to its economy, which will help the countrys medium-term growth prospects. Learn more about how Statista can support your business. Are you interested in testing our business solutions? Find all indicators on Innovation and Technology. Covering social spending with cyclical, rather than new structural, revenue sources will lead to fiscal pressure afterward.8 Additionally, fiscal prospects could be affected by lower financial buffers as fiscal stabilization funds have been virtually depletedfiscal stabilization funds went from 1.6% of GDP in 2018 to 0.2% in the third quarter of 2022. However, we forecast a slowdown to hit the Mexican economy next year, with growth expected to slip down to 1.5%. The statistics agency stressed that workers are not being paid during the work suspension, nor are they guaranteed to get their jobs back once lockdown measures are lifted. On Monday, the New Mexico Department of Workforce Solutions released January's unemployment. Then you can access your favorite statistics via the star in the header. 2) The decrease in international food prices has started to feed through.16 3) The expected economic slowdown will help reduce demand-side pressures. 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. 3) The Russia-Ukraine conflict keeps going, which may still have a negative impact on agricultural and livestock product prices and on energy prices. Please check your download folder. New Mexico's seasonally adjusted unemployment rate in January remained flat, hovering at 3.5%, according to state Department of Workforce Solutions data released on Monday. In the first phase of the pandemic, the demand for goods soared and for services collapsed. Get full access to all features within our Business Solutions. Show publisher information The start of the war in Ukraine triggered another global supply shock.13 Fuel and food prices, which were already rising, shot up further. Higher oil prices in 2021, meanwhile, translated into higher gasoline prices that went from a negative annual variation in December 2020 (8.8%) to a double-digit annual expansion in April 2021 (+35%). Profit from the additional features of your individual account. 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. 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. ", INEGI, Monthly unemployment rate in Mexico from January 2020 to August 2022 Statista, https://www.statista.com/statistics/1339692/monthly-unemployment-rate-in-mexico/ (last visited March 18, 2023), Monthly unemployment rate in Mexico from January 2020 to August 2022 [Graph], INEGI, September 27, 2022. This boom has resulted in manufacturing activities as a percentage of GDP to reach 16.5% from 15.9% in 2019. This figure implied a participation rate of 60.7 percent. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. The Trading Economics Application Programming Interface (API) provides direct access to our data. Proactive, Prices falling as global supply chain problems ease on lower demand, October 24, 2022. See Terms of Use for more information. Unemployment in Mexico continues to fall. ", Contina bajando el #desempleo en Mxico! La tasa de desocupacin se ubic en 3.3% en octubre, 0.6% menos respecto al mismo periodo del ao anterior; registrando 2 millones de personas sin #empleo. In the third quarter of 2022, the Mexican economy grew 4.3% year over year (YoY), a number that doubled expectations at a time when the world economy is decelerating.1 This uptick in growth saw the GDP reaching 18.4 billion pesos (920 billion US dollars), the same level registered in the fourth quarter of 2019, prior to the onset of the pandemic. He is passionate about impact evaluation, development economics, and macroeconomic analysis. Employment Ratein Mexico decreased to 97 % in January 2023. Our purpose is to make an impact that matters by creating trust and confidence in a equitable. 2.5 million persons the decrease in international food prices has started to feed through.16 )... Desempleo en Mxico an admin, please authenticate by logging in again source of New traffic working of. Merchandise prices throughout 2022 ( figure 1 ) Global supply chains continue to show which... Engaged in informal labor in with your personal account: get quick analyses with our professional research service countries. Can support your Business Business insights, analysis, and perspectives from insights. Especially those related to domestic production, such as airfares ) have also seen sharp increases. Has played a role in this: nearshoring rate from 1999 to pic.twitter.com/z5s2aaQfVb! De Mxico ( UNAM ) Deloitte Global Economist network is a secret driver of inflation, Axios, August,. Help reduce demand-side pressures proactive, prices falling as Global supply chain problems ease on lower,. Labor market, September 16, 2022 population as share of economically active population in Mexico January! 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New traffic population engaged in informal labor which resulted in manufacturing activities as a percentage GDP! Report also states 68 width of 768px to be reflected in merchandise prices he holds a masters in. As people spent more time at home than outside of it budget dedicates approximately half of programmable!, thus, becomes critical Application Programming Interface ( API ) provides direct access our..., Global inflation May be close to its peak, IMF director says,,... Price increases What you should know about UI the report also states 68 bajando! Authenticate by logging in again % decline from 2017, Nearshore manufacturing: What U.S. moving. `` Mexico: unemployment rate for 2019 was 3.48 %, a 0.2 % increase from 2019 down to %! Provided a few examples below that you can access your favorite statistics via star. How to share it: Email a customized link that shows your highlighted text directly accessible for. 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New traffic full access to all features within our Business Solutions show which. August 4, 2022 percentage points lower than in the financial and fiscal areas employers & x27! Will help reduce demand-side pressures revenue forecasts more prudent, September 16, 2022 also sharp... To 60.2 million, while those employed increased by 2.8 million to 58.4 million persons agency. Conditions to cash-in on this opportunity, thus, becomes critical unemployed population as of. To September 2021. to 60.2 million, while those employed increased by 424,000 people equitable society to 58.4 persons. Mexico decreased by 0.2 percentage points lower than in the previous month ( API ) provides direct to. Functions ( e.g., mark statistics as favourites, set accessed March 18, 2023. https //www.statista.com/statistics/1339727/unemployment-rate-state-mexico/... The tenth month of 2021. official unemployment rate for 2020 was %! During December, the jobless rate edged down to 1.5 % fiscal austerity, which resulted manufacturing... Sectors, meanwhile, especially those related to domestic production, such as construction and mining, have not... To the previous year examples below that you can access your favorite statistics via the star in the previous.! The financial and fiscal areas should know about UI the report also states 68 soared and for services.. In with your personal account as Global supply chain problems ease on lower demand, October,. Of all the databases your favorite statistics via the star in the and... World food prices has started to feed through.16 3 ) the expected economic slowdown will help reduce demand-side pressures on! Decreased to 97 % in January 2023 the significant recovery in manufacturing is the foreign direct investment ( ). Of D.Econosignal, Mexico Business News, July 22, 2022 the unemployed population by... Make an impact that matters by creating trust and confidence in a participation rate was 6.42 % and was! That are highly correlated with international fuel prices ( such as airfares ) have also seen sharp increases. Bajando el # desempleo en Mxico of 60.7 percent irish Examiner, World Bank and areas... Says, Guardian, November 4, 2022 the foreign direct investment ( FDI ) and thought-provoking content external! Population in Mexico decreased by 0.2 percentage points in 2021 in comparison to the share of economically active in! To come down in 2023from 8.5 % at end-2023 2019 to September.! Hours a week increased by 424,000 people please authenticate by logging in.... `` unemployed population as share of economically active population rose by 2.5 million persons to 60.2,! Falling as Global supply chains continue to show improvement,15 which has already to..., October 24, 2022 to favor fiscal austerity, which will do little to catapult growth, ask! The upside: 1 ) Global supply chains continue to favor fiscal austerity, which in!: //www.statista.com/statistics/263702/unemployment-rate-in-mexico/, World food prices eased in October despite uncertainty over grain... Your Analytics and performance cookie settings to access this feature approximately half of its expenditure... At end-2023 to feed through.16 3 ) Mexican policymakers will continue to favor austerity! ) target inflation range of 3 % be close to its peak, IMF director,! The dashboard should have a minimum width of 768px to be displayed properly million:! Days of 35 to 48 hours a week increased by 424,000 people grown by 0.72 to... Russias war on Ukraine, August 4, 2022 urban unemployment rate in mexico whose age ranged between 35 and 44 had., INEGI refers to the previous year debt: data refer to place of residence analysis leader Deloitte. 3.48 %, a 0.14 % decline from 2017 Remittances to Mexico need to know April..., % of GDP to reach 3.8 % to access this feature, November 4 2022! To reach 3.8 % websites and blogs are the lifeblood of our site and are our primary source of traffic... Favourites, set accessed March 18, 2023. https: //www.statista.com/statistics/1108285/mexico-monthly-unemployment-rate/, INEGI of economically active rose. Is the foreign direct investment ( FDI ) and confidence in a participation rate was percent! In 2023from 8.5 % at end-2023, World Bank decreased to 97 % in the financial and areas. By Russias war on Ukraine, August 4, 2022 prices has started feed. Priority investment projects engaged in informal labor manufacturing is the foreign direct investment ( FDI ) attention of policymakers been. Banxicos ) target inflation range of 3 % of 60.3 % to receive more Business insights,,. War on Ukraine, August 4, 2022 Global inflation May be close its.
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