Economy, jobs and prices in Michoacan, Mexico: official figures
The gross domestic product of Michoacan was 924.0 billion pesos in 2024 at current prices, according to INEGI, 2.8% of Mexico's 33.58 trillion pesos and 13th largest of 32 federal entities. In current pesos it was up 4.8% on 2023.
How fast is the economy of Michoacan growing?
After removing price changes, the economy of Michoacan grew 1.0% in 2024, against 1.5% for Mexico as a whole; 14th slowest growth of 32.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHas the economy of Michoacan grown since 2018?
In real terms GDP in Michoacan was 7.8% higher in 2024 than in 2018 (Mexico 5.0% higher), 9th largest growth of 32. Since 2003 it has grown 52.3% in real terms (Mexico 41.9%), and its share of national GDP has moved from 2.36% to 2.75%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the GDP per capita of Michoacan?
Dividing 2024 GDP by CONAPO's mid-2024 population gives 184,851 pesos per person in Michoacan, 0.73 times the national figure of 253,888 pesos; 11th lowest of 32.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat are the main industries in Michoacan?
In 2024 tertiary activities (trade and services) made up 67.7% of gross value added in Michoacan, secondary activities (industry, mining, construction and utilities) 16.5% and primary activities (farming, livestock, forestry and fishing) 15.7% (the highest farm share of 32; Mexico 4.1%).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow important is manufacturing in Michoacan?
Manufacturing produced 11.4% of gross value added in Michoacan in 2024 (11th lowest of 32; Mexico 21.5%), and mining 0.80%. Hotels and restaurants accounted for 4.1% (5th highest of 32).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the unemployment rate in Michoacan?
The unemployment rate in Michoacan was 1.8% in April to June 2026, according to INEGI's ENOE labour force survey, against 2.7% for Mexico; 6th lowest of 32.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat was the unemployment rate in Michoacan in 2025?
A year earlier, in April to June 2025, the ENOE put unemployment in Michoacan at 1.6% (Mexico 2.7%; 3rd lowest of 32), with 2,258,881 people in work and labour force participation of 60.7%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow many people work in Michoacan?
About 2,218,946 people in Michoacan were working in April to June 2026 and 40,099 were unemployed. 59.4% of residents aged 15 and over were in the labour force (13th lowest of 32; Mexico 59.1%).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow many workers in Michoacan are informal?
71.3% of employed people in Michoacan worked informally in April to June 2026 (without social security through their job or in unregistered businesses), against 55.1% nationally; 6th highest of 32. A year earlier the rate was 69.5%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyIs informal work in Michoacan falling?
Labour informality in Michoacan was 71.3% in April to June 2026, up 2.8 percentage points on the same quarter of 2019 (68.5%) and down 1.7 percentage points on 2005 (73.0%), when INEGI's quarterly series begins.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat jobs do people do in Michoacan?
In April to June 2026, 76.8% of workers in Michoacan had no access to health services through their work, 62.8% were salaried employees, and 9.3% worked in manufacturing; 21.3% worked in farming, livestock, forestry or fishing.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the average wage in Michoacan?
Employed people in Michoacan earned an average of 64.12 pesos per hour worked in April to June 2026 (Mexico 70.26 pesos; 13th lowest of 32), and worked an average of 39.1 hours a week (Mexico 41.5).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the average household income in Michoacan?
Average current income per household in Michoacan was 68,234 pesos a quarter in 2024 (about 22,745 pesos a month), against 77,864 pesos for Mexico, according to INEGI's ENIGH household survey; 12th lowest of 32.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyIs household income rising in Michoacan?
At constant 2024 prices, average household income in Michoacan was up 8.4% on 2022 and up 34.4% on 2016 (Mexico up 10.8% since 2016).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the income per person in Michoacan?
Income per person in Michoacan averaged 19,940 pesos a quarter in 2024 (Mexico 23,217 pesos; 12th lowest of 32). The richest tenth of people had 13.5 times the average income of the poorest tenth.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow unequal is income in Michoacan?
The Gini coefficient of income per person in Michoacan was 0.396 in 2024 (Mexico 0.417), 10th most unequal of 32; in 2016 it was 0.401.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much do households in Michoacan spend?
The 1,444,388 households of Michoacan spent an average of 57,155 pesos a quarter on current consumption in 2024 (Mexico 61,309 pesos); 39.5% of their cash spending went on food, drink and tobacco (Mexico 37.7%).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow Michoacan compares with other states
GDP at current prices, 2024 (2024)
Michoacan ranks 13 of 32, highest first.
| Rank | Region | GDP at current prices, 2024 |
|---|---|---|
| 10 | Puebla | 1.19 trillion pesos |
| 11 | Sonora | 1.11 trillion pesos |
| 12 | Tamaulipas | 1.01 trillion pesos |
| 13 | Michoacan | 924.0 billion pesos |
| 14 | Queretaro | 803.7 billion pesos |
| 15 | San Luis Potosi | 780.6 billion pesos |
| 16 | Sinaloa | 711.1 billion pesos |
GDP per person, 2024 (GDP / CONAPO mid-2024 population) (2024)
Michoacan ranks 22 of 32, highest first.
| Rank | Region | GDP per person, 2024 (GDP / CONAPO mid-2024 population) |
|---|---|---|
| 19 | Sinaloa | 224,616 pesos |
| 20 | Yucatan | 220,933 pesos |
| 21 | Zacatecas | 204,554 pesos |
| 22 | Michoacan | 184,851 pesos |
| 23 | Hidalgo | 180,043 pesos |
| 24 | Veracruz | 178,128 pesos |
| 25 | State of Mexico | 173,661 pesos |
Real GDP growth, 2024 (2024)
Michoacan ranks 19 of 32, highest first.
| Rank | Region | Real GDP growth, 2024 |
|---|---|---|
| 16 | Tlaxcala | 1.7% |
| 17 | Queretaro | 1.4% |
| 18 | Guerrero | 1.2% |
| 19 | Michoacan | 1.0% |
| 20 | San Luis Potosi | 0.9% |
| 21 | Jalisco | 0.8% |
| 22 | Morelos | 0.7% |
Real GDP growth, 2018-2024 (cumulative) (2018-2024)
Michoacan ranks 9 of 32, highest first.
| Rank | Region | Real GDP growth, 2018-2024 (cumulative) |
|---|---|---|
| 6 | Hidalgo | 8.5% |
| 7 | Baja California | 8.2% |
| 8 | Nuevo Leon | 7.9% |
| 9 | Michoacan | 7.8% |
| 10 | Veracruz | 6.7% |
| 11 | Jalisco | 6.3% |
| 12 | Sonora | 5.4% |
Manufacturing share of gross value added, 2024 (2024)
Michoacan ranks 22 of 32, highest first.
| Rank | Region | Manufacturing share of gross value added, 2024 |
|---|---|---|
| 19 | Zacatecas | 14.2% |
| 20 | Oaxaca | 12.2% |
| 21 | Yucatan | 11.4% |
| 22 | Michoacan | 11.4% |
| 23 | Sinaloa | 8.7% |
| 24 | Chiapas | 7.9% |
| 25 | Colima | 6.0% |
Unemployment rate, Q2 2026 (Q2 2026)
Michoacan ranks 27 of 32, highest first.
| Rank | Region | Unemployment rate, Q2 2026 |
|---|---|---|
| 24 | Chiapas | 2.2% |
| 25 | Veracruz | 1.9% |
| 26 | Puebla | 1.8% |
| 27 | Michoacan | 1.8% |
| 28 | Yucatan | 1.7% |
| 29 | Morelos | 1.7% |
| 30 | Colima | 1.6% |
Labour force participation rate (age 15+), Q2 2026 (Q2 2026)
Michoacan ranks 20 of 32, highest first.
| Rank | Region | Labour force participation rate (age 15+), Q2 2026 |
|---|---|---|
| 17 | San Luis Potosi | 60.0% |
| 18 | Campeche | 59.7% |
| 19 | Aguascalientes | 59.7% |
| 20 | Michoacan | 59.4% |
| 21 | Baja California | 59.4% |
| 22 | Hidalgo | 58.9% |
| 23 | Tamaulipas | 58.4% |
Labour informality rate (TIL1), Q2 2026 (Q2 2026)
Michoacan ranks 6 of 32, highest first.
| Rank | Region | Labour informality rate (TIL1), Q2 2026 |
|---|---|---|
| 3 | Chiapas | 76.9% |
| 4 | Tlaxcala | 72.0% |
| 5 | Hidalgo | 72.0% |
| 6 | Michoacan | 71.3% |
| 7 | Puebla | 70.3% |
| 8 | Veracruz | 69.1% |
| 9 | Morelos | 67.2% |
Average income per hour worked, employed people, Q2 2026 (Q2 2026)
Michoacan ranks 20 of 32, highest first.
| Rank | Region | Average income per hour worked, employed people, Q2 2026 |
|---|---|---|
| 17 | Jalisco | 67.78 pesos |
| 18 | San Luis Potosi | 67.25 pesos |
| 19 | Guanajuato | 67.09 pesos |
| 20 | Michoacan | 64.12 pesos |
| 21 | Campeche | 63.84 pesos |
| 22 | Zacatecas | 62.87 pesos |
| 23 | Hidalgo | 62.63 pesos |
Average quarterly current income per household, 2024 (2024)
Michoacan ranks 21 of 32, highest first.
| Rank | Region | Average quarterly current income per household, 2024 |
|---|---|---|
| 18 | State of Mexico | 74,162 pesos |
| 19 | San Luis Potosi | 73,205 pesos |
| 20 | Durango | 69,589 pesos |
| 21 | Michoacan | 68,234 pesos |
| 22 | Campeche | 66,236 pesos |
| 23 | Morelos | 66,195 pesos |
| 24 | Tabasco | 65,001 pesos |
Average quarterly current income per person, 2024 (2024)
Michoacan ranks 21 of 32, highest first.
| Rank | Region | Average quarterly current income per person, 2024 |
|---|---|---|
| 18 | State of Mexico | 21,311 pesos |
| 19 | Guanajuato | 21,058 pesos |
| 20 | Morelos | 20,262 pesos |
| 21 | Michoacan | 19,940 pesos |
| 22 | Durango | 19,703 pesos |
| 23 | Tabasco | 19,294 pesos |
| 24 | Campeche | 19,258 pesos |
Gini coefficient of income per person, 2024 (2024)
Michoacan ranks 10 of 32, highest first. Gini coefficient: 0 means everyone has the same income, 1 means one person has all of it.
| Rank | Region | Gini coefficient of income per person, 2024 |
|---|---|---|
| 7 | Yucatan | 0.402 |
| 8 | Queretaro | 0.401 |
| 9 | Puebla | 0.399 |
| 10 | Michoacan | 0.396 |
| 11 | Campeche | 0.393 |
| 12 | Tabasco | 0.391 |
| 13 | Zacatecas | 0.389 |
More on Michoacan: overview · health · education and schools · poverty and living standards · government budget · Mexico
Sources
- Instituto Nacional de Estadistica y Geografia (INEGI): Encuesta Nacional de Ingresos y Gastos de los Hogares (ENIGH) 2024, nueva serie, tables by federal entity: 1.3 (households), 2.1 and 2.3 (average quarterly current income per household and per person, deciles and Gini, 2016-2024 at constant 2024 prices), 4.5 (household spending by category), 6.1 (income and spending per household), read 23 October 2026 · saved copy (SHA-256 70b3c7ea2dc8…)
- Instituto Nacional de Estadistica y Geografia (INEGI): Encuesta Nacional de Ocupacion y Empleo (ENOE): strategic indicators of occupation and employment, April-June 2026, national and federal entity tables, read 23 October 2026 · saved copy (SHA-256 ad9d2139d9ee…)
- Instituto Nacional de Estadistica y Geografia (INEGI): Encuesta Nacional de Ocupacion y Empleo (ENOE): strategic indicators of occupation and employment, April-June 2025, national and federal entity tables, read 23 October 2026 · saved copy (SHA-256 8e9948078b2c…)
- Instituto Nacional de Estadistica y Geografia (INEGI): ENOE, informalidad laboral: quarterly labour informality and informal-sector rates by federal entity and sex, 2005-2026 (Tasas_Infor_enti-1.xlsx), read 23 October 2026 · saved copy (SHA-256 d940bbd2871c…)
- Instituto Nacional de Estadistica y Geografia (INEGI): Producto Interno Bruto por Entidad Federativa (PIBE), base year 2018, series 2003-2024 (2024 revised): tables PIBE_2 (GDP), PIBE_4 (gross value added), PIBE_5, PIBE_12 and PIBE_31 (primary, secondary and tertiary activities), PIBE_13 and PIBE_14 (mining, oil mining), PIBE_18 (manufacturing), PIBE_44 (accommodation and food services), read 23 October 2026 · saved copy (SHA-256 c2de99570137…)
Each saved copy is the file exactly as downloaded, kept so the figures can be checked even if the source changes. Report an error.