Mexico: Labor cost
* indicates monthly or quarterly data series
The most recent value is 158.18 index points as of September 2024, a decline compared to the previous value of 163.97 index points. Historically, the average for Mexico from January 2008 to September 2024 is 95.61 index points. The minimum of 58.09 index points was recorded in February 2008, while the maximum of 195.79 index points was reached in May 2024.
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* indicates monthly or quarterly data series
- Measure: index points
- Source: Bank of Mexico
| Recent values | Mexico: Labor cost index |
|---|---|
| 2024 Sep | 158.18 |
| 2024 Aug | 163.97 |
| 2024 Jul | 157.53 |
| 2024 Jun | 159.01 |
| 2024 May | 195.79 |
| 2024 Apr | 156.83 |
| 2024 Mar | 158.78 |
| 2024 Feb | 153.77 |
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Definition: The index reflects the level of the total compensation of employees in the economy. Labor costs are defined as core expenditure borne by employers for the purpose of employing staff. They include employee compensation, with wages and salaries in cash and in kind, employers' social security contributions and employment taxes regarded as labor costs minus any subsidies received.
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Labor force | 59.93 | 2023 | million people |
| Unemployment rate | 2.81 | 2023 | percent |
| Female unemployment | 2.86 | 2023 | percent |
| Male unemployment | 2.78 | 2023 | percent |
| Youth unemployment | 6.11 | 2023 | percent |
| Labor force participation | 61.52 | 2023 | percent |
| Labor force: percent female | 39.45 | 2023 | percent |
| Female labor force participation | 46.80 | 2023 | percent |
| Male labor force participation | 77.37 | 2023 | percent |
| Hours worked | 2,206.63 | 2023 | hours |
| Self-employment | 31.84 | 2022 | percent |
| Informal employment | 55.70 | 2020 | percent |
| Employment | 59.33 | Q2/2024 | million employed people |
| Unemployment rate | 2.74 | 9/2024 | percent |
| Labor cost | 158.18 | 9/2024 | index points |