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December 12, 2024
... with only 24.7 thousand new jobs, the lowest level in two decades, with an annual growth of 1.0%. The weakness in employment, expected by the end of the year, has been confirmed by the results, specifically in November, which recorded the second-lowest job creation since 1997.
November 30, 2024
The national unemployment rate for October stood at 9.1%, similar to the 9.2% recorded a year ago, and seasonally adjusted figures show it was similar to September of this year. In October, national employment levels remained stable compared to September (seasonally adjusted).
November 12, 2024
The weakness in employment, observed since the beginning of the year, has intensified more than expected due to factors such as the closure of federal infrastructure projects and political and economic uncertainty. In October, formal employment grew by 1.4%, falling 0.3 percentage points short of expectations.
October 31, 2024
The national unemployment rate in September was 9.1%, similar to the 9.3% reported a year ago. Seasonally adjusted, the unemployment rate was below its average level in the first half of the year, which stood at 10.5%. By September, the labor market displayed reduced dynamism, with a slowdown in job creation.
September 30, 2024
The national unemployment rate was 9.7% in August, up from 9.3% in August 2023. Seasonally adjusted, the August unemployment rate was 10.0%, unchanged from July this year, and below its average level for the first half of the year, which was 10.6%.
September 12, 2024
Employment continues to slow down, with minimal monthly increases. According to the IMSS, formal employment grew by 1.8% annually in August, 0.2 points less than in June and July. Seasonally adjusted job creation has shown three months of 0.1% variations, reflecting weakness in annual variations.
September 2, 2024
Remittances have been volatile over the past five months. Increases have been reported in two of them (April and June, even months) and declines in three months (March, May and July, odd months). In August, the peso depreciated 5.4%, so the next remittance report is expected to show growth.
August 31, 2024
The national unemployment rate stood at 9.9% in July, up from 9.6% in July 2023. Seasonally adjusted, July's rate was down from June and below the average level of the first half of the year, showing an improvement in the labour market.
August 23, 2024
Formal employment grew by 2.0% year-on-year in July, similar to the previous month but 0.2 percentage points below the forecast. A moderate improvement is expected in the coming months. Permanent employment has shown resilience, with 322 thousand new positions this year.
August 14, 2024
Although the Unemployment Rate (UR) increase raises concerns, it remains just 0.1 percentage points away from the Federal Reserve's long-term target, and the July figure didn't trigger the Sahm Rule due to changes in the calculation. Ongoing monitoring of the UR is necessary to assess future risks.
July 10, 2024
There is still no clear indication of a severe slowdown in the labor market, though it has weakened more than it initially appears. The slower rate of job creation, coupled with frequent downward adjustments to monthly employment figures, suggests a labor market that remains robust but not excessively tight.
