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. (December 22, 2022). 4) The expected slowdown in the United States5 will weigh heavily on Mexico, given the strong trade and investment links between the two countries. teleSUR/MS, Get our newsletter delivered directly to your inbox. Mexico's economy has developed and improved over the. In, INEGI. 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%). 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. Use Ask Statista Research Service. The INEGI survey indicates that the EAP totaled 60.4 million people in October this year. 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%. 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. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Joseph Glauber et al., No end in sight yet for the global food price crisis, International Food Policy Research Institute, September 27, 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. Daniel Zagais the Economic Analysis leader at Deloitte Mexico. International Monetary Fund (IMF) Blog, Latest global growth forecasts show challenges facing economies, October 19, 2022. She is also a senior economist at D.Econosignal, Mexico. More recent data show that in October 2022, the unemployment rate was stable at 5.2% in Canada while it increased to 3.7% in the United States from 3.5% in September. If you are an admin, please authenticate by logging in again. However, the pace of this downward trajectory will be gradual and subject to risks. Profit from the additional features of your individual account. statistic alerts) please log in with your personal account. The Trading Economics Application Programming Interface (API) provides direct access to our data. Debes completar todos los campos obligatorios para poder continuar. Monthly unemployment rate in Mexico from January 2020 to August 2022 [Graph]. Compared to the previous year, October 2022 saw a 0.6 percent decrease in the Unemployment Rate of the Economically Active Population, according to the National Institute of Statistics and Geography (INEGI). Panelists see inflation declining steadily in the coming quarters on a tough base of comparison, restrictive monetary conditions and milder external price pressures, but staying above target throughout the . The West and the Majority World - Repression Versus Openn Thousands of Mexicans March To Show Their Support for the Government, Venezuela: Govt Delegation Arrives in Mexico to Sign Agreement, Chilean President Welcomed in Mexico on First Official Visit, Lewandowski Misses Penalty as Poland Draw 0-0 With Mexico, Mexico Suspends the Summit of the Pacific Alliance. See something interesting? 2) The decrease in international food prices has started to feed through.16 3) The expected economic slowdown will help reduce demand-side pressures. Irish Examiner, World food prices eased in October despite uncertainty over Ukraine grain shipments, November 4, 2022. Therefore, this expansion, eleven quarters after the pandemic, marks an important milestone in Mexicos postpandemic recovery process. Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set Social login not available on Microsoft Edge browser at this time. Use this code to embed the country dashboard into your website. 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%. However, it is still 35% below the Q4 2018 levels. 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. In this way, the employed population decreased by 95,020 people compared to the previous month, to add a total of 52,839,287. Standard users can export data in a easy to use web interface or using an excel add-in. Unemployment rate in Mexico in the 2nd quarter 2022, by federal entity [Graph]. Get full access to all features within our Business Solutions. New Mexico's unemployment rate stood at 3.5% in January its lowest point since 2007. Organisation for Economic Co-operation and Development, The supply of critical raw materials endangered by Russias war on Ukraine, August 4, 2022. Data published Quarterly by National Institute of Statistics and Geography. Are you interested in testing our business solutions? ", 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. Copy a customized link that shows your highlighted text. Then you can access your favorite statistics via the star in the header. New Mexico includes the following metropolitan areas for which an Economy At A Glance table is available:. August 18, 2022. Seasonally adjusted unemployment rates by state demonstrate a rather sizable spectrum, ranging from just 1.8% in Minnesota, to 4.5% in New Mexico and 5.2% in the District of Columbia. INEGI. Then you can access your favorite statistics via the star in the header. Focus Economics, Mexico: Merchandise exports gain steam in August, September 27, 2022. Inflation fell from 7.9% in January to 7.6% in February, but remained above the Central Bank's 2.0-4.0% target range. Mexico unemployment rate for 2019 was 3.48%, a 0.2% increase from 2018. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Please create an employee account to be able to mark statistics as favorites. 2) Interest rates will remain high, putting pressure on borrowing costs and dampening private sector credit. The Local Area Unemployment Statistics (LAUS) program publishes estimates of the CIVILIAN LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT, AND THE UNEMPLOYMENT RATE monthly using concepts and definitions that are consistent with those of the Current Population Survey (CPS), also known as the household survey. He is also the director of D.Econosignal, Mexico. Economic Analysis Director | Deloitte Spanish LATAM, Telecommunications, Media & Entertainment, Go straight to smart. This phenomenon is being witnessed all around the world as higher input prices have pushed the costs of final goods.10 In Mexico, although most of the inflationary pressures come from abroad, there are also internal factors that have influenced inflations upward trajectory. Creating proper conditions to cash-in on this opportunity, thus, becomes critical. The female population went from 881 to 842 thousand people in the same period. Please create an employee account to be able to mark statistics as favorites. October 22, 2021. After comparing the November-December 2018's unemployment rate, this has higher than the one from the same period in 2017, which was 7%. Later in the year, we expect a decoupling and anticipated 150 bps in accumulated cuts from Banxico (vs. only 25bps by the Fed), with the rate closing 2023 at 9.25%. 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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. Please do not hesitate to contact me. "Mexico: Unemployment Rate from 1999 to 2021. 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. 2Nd quarter 2022, by federal entity [ Graph ] uncertainty over Ukraine grain shipments November! 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