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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.
Evidence shows that permanent improvements in productivity lead to a gradual reduction in hours worked per employee. In contrast, reversing this order of causality hinders employment growth.
The employment resumes growth in April (2.5% year-on-year); this rebound in employment is explained by the negative impact of the previous month's Easter week. A change in the employment creation trend is not anticipated but rather seen as a te…
In the first quarter of 2024, job creation remained strong, but overall employment growth has slowed compared to last year. April saw only 175 thousand new jobs added, well below the expected 243 thousand.
Formal employment in Mexico showed null monthly variation in March 2024, reflecting a more pronounced slowdown than expected in the year's first quarter. In March, it grew below expectations, partly attributable to the effect of Easter.
Formal employment added 109 thousand new jobs in January, 2.4% less than in 2023, with a marked slowdown in manufacturing and services. Real wage increased 5.6% YoY (15.4% above pre-pandemic), and the total wage bill grew 8.8% YoY (23.9% above pre-pandemic).
Wage and disposable income inequality in Spain illustrates the importance of avoiding its causes by bringing Spain's unemployment rate down and converging it to EU levels, thereby enjoying the double dividend of full employment.
… grows by 0.8% MoM in October, slightly below the average since 2010 (0.9% MoM). With the creation of 173 thousand formal jobs, October ranks as the fourth-highest figure since 1998. However, it stands 1.2 percentage points below the average y…
The Mexican economy has shown better performance than expected, partly explained by the labor market's strength. According to the National Survey of Household Income and Expenditure (ENIGH), job creation and wage improvements have been more rel…
As we discussed in our latest Quarterly Labour Market Observatory, conducted jointly with Fedea and Sagardoy Abogados, job creation has continued to grow in Spain over the last few months, but is now showing signs of slowing.
In June, formal employment slowdown, reaching one of its lowest levels since 1998. Despite this, in cumulative figures from January to June, it represented a growth of 2.4%, a 0.2pp increase compared to the previous year, indicating strength in the labor market.
An important part of the "incomes pact" was completed several days ago with the fifth Agreement for Employment and Collective Bargaining. Although it consolidates the loss of workers' purchasing power, it ensures that labor costs will not put additional pressure on inflation, which should help maintain employment.
