Mexico: Labor cost

* indicates monthly or quarterly data series

Labor cost index

 Latest value 186.44
 Reference December 2023
 Measure index points
 Data availability January 2008 - December 2023
 Average 92.53
 Min - Max 58.09 - 186.44
 Source Bank of Mexico
For that indicator, we provide data for Mexico from January 2008 to December 2023. The average value for Mexico during that period was 92.53 index points with a minimum of 58.09 index points in February 2008 and a maximum of 186.44 index points in December 2023. Click on the following link to see the values of Labor cost index around the world.
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* indicates monthly or quarterly data series

Recent values chart
Mexico - Labor cost - recent values

Historical chart
Mexico - Labor cost - historical chart - 2008-2023
Measure: index points
Source: Bank of Mexico

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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 value Reference Measure
 Labor force 58.70 2022 million people
 Unemployment rate 3.31 2022 percent
 Female unemployment 3.37 2022 percent
 Male unemployment 3.27 2022 percent
 Youth unemployment 6.36 2022 percent
 Labor force participation 60.98 2022 percent
 Labor force: percent female 38.83 2022 percent
 Female labor force participation 45.66 2022 percent
 Male labor force participation 77.49 2022 percent
 Employment 59.17 Q3/2023 million employed people
 Unemployment rate 2.72 9/2023 percent
 Labor cost 145.57 9/2023 index points
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