Mexico | Formal employment slowdown in May, in line with expectations...

Summary

Formal employment in Mexico continues decelerating, growing 2.2% in May 2024, 0.2 percentage points lower than the previous month. Job creation is expected to pick up in the third quarter but at a slower pace than in 2023.

Key points

• Key points:
• Permanent employment accounted for 1.96 percentage points of total employment growth (2.2%), while temporary employment only contributed 0.27 percentage points.
• The commerce and transportation sectors continue to drive job creation.
• Construction and manufacturing continue to experience a sharp slowdown in their growth.
• Mexico City had the highest net job creation (17.1 thousand), with a growth rate of 2.1%.
• Sinaloa had the highest job loss (19.6 thousand), with a 3.2% decline from the previous month.

Geographies

Topics

Tags