Mexico records second-lowest OECD unemployment rate at 2.7%

The OECD reported that its overall unemployment rate fell to 4.9% in July, approaching the historic low of 4.8% recorded in June 2023. The total number of unemployed individuals across member nations dropped to 34.7 million.

Mexico recorded the second-lowest unemployment rate among OECD countries at 2.7%, trailing only Japan, which stood at 2.4%. South Korea also reported a rate below 3%. In contrast, countries such as Spain and Finland maintained double-digit unemployment rates of 10% and 10.5%, respectively.

Youth unemployment (ages 15-24) across the OECD fell to 11%. Mexico's youth unemployment rate was 6.2%, the third lowest in the organization, following Japan (3.4%) and Israel (5.9%). Within Mexico, unemployment remains higher among women (3%) than men (2.5%), and the rate for those over 25 years old is significantly lower at 2.1%.