Mexico's Productivity Surges, Outpacing OECD Average According to New Report

Mexico’s Productivity Surges, Outpacing OECD Average According to New Report

Mexico’s labor productivity increased by 1.96% in the 2023-2024 period, a result that significantly exceeds the OECD average of 0.62%. This is according to the report Perspectives on Employment 2026, in which the organization highlights Mexico’s performance among its member countries since the onset of the COVID-19 pandemic.

Furthermore, productivity growth accelerated compared to the 2019-2023 period. While the average increase during those years was 1.45%, the most recent period saw it reach 1.96%.

Concurrently, the

in Mexico decreased by 0.52% annually between 2023 and 2025. Across the OECD, the reduction was 0.20%. Despite this, Mexican workers continue to work more hours than the average for the organization’s member countries.

Labor market indicators also showed favorable performance. In May 2026, the unemployment rate stood at 2.7%, the second lowest in the OECD, only surpassed by Japan. Similarly, labor force participation moved from 65.4% in the first quarter of 2025 to 65.1% in the same period of the current year.

On another note, real wages maintained a positive trend. As of the first quarter of 2026, they were 15.1% higher than those recorded in the same period of 2021, while the OECD average was 1.2%.

It is worth mentioning that the report indicates Mexico registered the highest cumulative growth in real wages among the compared economies. Additionally, during the last year, real wages increased by 3.9% in the country, compared to the OECD average of 1.7%. The organization attributes this performance to the sustained increases in the minimum wage implemented in recent years.