Mexico | Formal employment slowed-down during 2019, a moderate recovery is expected

Summary

In December 2019, the IMSS registered a total of 20.4 million workers. A total of 342 thousand new formal jobs were created in 2019, an average growth of 2.3% in the year. The formal payroll maintained average growth above 5% during the year.

Key points

• Key points:
• The construction sector was the most affected during 2019 with a loss of 13 thousand jobs
• Guerrero had the worst performance in formal job creation during 2019 with an average rate of -3.5%
• The unemployment rate in December was 3.1%, its lowest level since 2005
• The rate of critical working conditions showed downward resilience

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