For that indicator, we provide data for Guatemala from 1991 to 2022. The average value for Guatemala during that period was 2.82 percent with a minimum of 2.19 percent in 2019 and a maximum of 3.5 percent in 2010.
The latest value from 2022 is 2.57 percent. For comparison, the world average in 2022 based on 176
countries is 7.45 percent.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
The unemployment rate in Guatemala and other countries is defined as the number of unemployed people as percent of the labor force. The labor force includes the people who are either employed or unemployed, i.e. who don't have a job but are actively looking for one. The labor force does not include people who are not looking for work, children, and the retired.
The unemployment rate seldom declines below 4-5 percent even during boom times. There are always people who move between different sectors of the economy or between cities. When the economy goes into recession, then unemployment can reach much higher numbers, sometimes even in the double digits.
Definition: Unemployment refers to the share of the labor force that is without work but available for and seeking employment.