Mexico Unemployment Rate

The Mexican unemployment rate was at 2.4% in December 2024, down slightly from 2.6% in the same month of the previous year and undershooting market forecasts of 2.6%. It was the lowest jobless rate since last March, as the unemployed population decreased by 109 thousand from the previous year to 1.5 million, and the number of employed rose by 175 thousand to 59.3 million. Employment increased primarily in various services (474,000), social services (235,000), transportation, communications, and storage (230,000), and professional, financial, and corporate services (167,000), but fell significantly in other sectors such as manufacturing (-388,000 thousand) and agriculture (-360,000). Meanwhile, the labor force participation rate was 59.3%, with the economically active population rising by 66 thousand to 60.8 million people. Seasonally adjusted, the unemployment rate edged down to 2.6% from 2.7% in November.