Last Update: 01/11/2022
Market with great potential and human capital
Mexico is one of the largest markets in the world, with a population of over 129 million inhabitants, out of which 45.35% (58.7 million) corresponds to the economically active population and 37.4 million to the working population.[1] Around 43.8% of the population is under 25 years old and the average age is 29 years.[2]
[1] INEGI, Employment and Occupation, 2021
[2] Consejo Nacional de Población (CONAPO), 2021.
Population and Demographic Bonus
Mexico experiences a positive demographic process: working age population (15 to 64 years) is higher than the dependent population (0 to 14 years, and 65 years and over),[1] which impacts directly the country’s productive and economic potential. According to CONAPO and INEGI, it is estimated that in the following two decades the population at working age will reach 80 million, equivalent to 60% of the total population.
[1] INEGI, Mexico’s Population, [2021].
Mexico’s average population density is 64/km2.[2] Geographically, the population is located mainly in the central region of the country and around Mexico City metropolitan area, heart of the country’s political and financial activities. The most populated metropolitan areas are:
Mexico City (20,804,515 inhab.)
Monterrey, Nuevo Leon (5,341,171 inhab.)
Guadalajara, Jalisco (5,268,642 inhab.)
Puebla, Puebla (3,199,530 inhab.)
Toluca, Estado de Mexico (2,353,924 inhab.)
[2 ] INEGI, Mexico’s Population, [2021].
Unemployment Rate
In the last 10 years, Mexico’s unemployment rate has been lower than 5%.
Labour market conditions continue to strenghten. As of September 2023, the unemployment rate was registered at 2.7%
As of September 2022, the number of workers affiliated to the IMSS was 21.23 million, thus representing an annual gain of 816,043 jobs since the same period in 2021.
In 2020, Mexico ranked 9th among the member countries of the Organization for Economic Co-operation and Development (OECD) with the lowest unemployment rate. It is estimated that in the following years, formal employment will keep an ongoing growth, and the unemployment rate will maintain a level below 4%.
