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Unemployment Rate in Mexico Lower than U.S.

28 February, 2013

It’s no big surprise that the number of Mexicans willing to move to another country – including to the U.S. – has dropped dramatically over the last five years. Mexico enjoys a low average unemployment rate of just 4.47 percent as of December 2012,according to a recent report by Bloomberg.

“Mexico’s unemployment rate fell to its lowest since December 2008,bolstering expectations that the central bank will keep its benchmark interest rate on hold,” writes Bloomberg. “The economy will expand about 3.5 percent this year,according to analysts in a Bloomberg survey.”

Comparatively,the U.S. unemployment rate was still hovering at around 7.8 percent at the close of 2012,making it easy to see why the popularity of Mexico real estate is still on the rise. According to a new Gallup poll,five years ago 21 percent of Mexicans were willing to leave the country in search of greater opportunity,but now that rate has dropped nearly in half to only 11 percent,reported The Washington Times. 

“There’s more work in Mexico [and the] economy has rapidly expanded,averaging approximately 4 percent GDP growth over the last three years,compared with 2 percent growth in the U.S. over the same period,” reports The Washington Times. “Mexico is fast becoming one of the largest consumers of U.S. exports valued in dollars,growing 12 percent annually over the past decade. Mexico buys more goods and services from the U.S. than China does,plus Germany,France,the United Kingdom and Italy – combined.”

Also of note,the Gallup poll shows that a whopping 36 percent of Americans describe their national economy as “poor,” compared with only 13 percent of Mexicans. No matter what your opinion of Mexico may have previously been,it’s undeniable that things are improving dramatically south of the border.

Out of Mexico’s many states,the Yucatan Peninsula and Riviera Maya boast some of the lowest unemployment rates in the entire country and offer residents thousands of job opportunities,according to state and local officials. In this region,the unemployment rate is hovering at between 2 and 4 percent,depending on the area in which you reside.

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