Mexico Unemployment Rate

The Mexican unemployment rate fell to 2.5% in February 2024 from 2.7% in the corresponding period a year ago, coming below market expectations of 2.8%. The number of unemployed people declined by 137 thousand to 1.5 million and the number of employed increased by 1.1 million to 59.4 million. The economically active population rose by 917 thousand to 60.9 million, which resulted in a participation rate of 60.2%. Seasonally adjusted, the unemployment rate edged down to 2.6% from 2.8% in February 2023.