Last review date: October, 2024
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% (61 million) corresponds to the economically active population and 59.4 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, 2024
[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 61% 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 (21,436,911 inhab.)
Monterrey, Nuevo Leon (5,322,117 inhab.)
Guadalajara, Jalisco (5,110,617 inhab.)
Puebla – Tlaxcala (2,276,893 inhab.)
Toluca, Estado de Mexico (2,353,924 inhab.)
[2 ] INEGI, Mexico’s Population, [2020].
Unemployment Rate
In the last 10 years, Mexico’s unemployment rate has been lower than 5%.
Labour market conditions continue to strenghten. As of October 2024, the unemployment rate was registered at 2.8%
As of September 2024, the number of workers affiliated to the IMSS was 22,389,835 million.
In 2024, Mexico ranked 2nd 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%.
