For labour force participation rates, the plan envisions 60 per cent by 2020 and 65 per cent by 2030, up from the estimated 56 per cent today. 3 We don’t have to achieve a world-beating performance to arrive at these sorts of numbers. Mexico has a 65 per cent labour force participation rate right now. Brazil is at 70 per cent.
Meanwhile, world average unemployment rates are at about 5,5 per cent currently, and a little lower in emerging markets. 4 In other words, the goals of the National Development Plan are perfectly sensible. By world standards, they are normal, or even a little worse than normal.