Employment in Mexico Increased by 2.2%

The Mexican Social Security Institute (IMSS) reported that at the end of May, 486,090 jobs were created, representing a 2.2 percent increase over the past 12 months.

According to the report, there is a total of 22,348,999 jobs, of which 86.3 percent are permanent and 13.7 percent are temporary. Meanwhile, from January to March, the Institute reported the creation of 324,613 jobs.

Alberto Alesi, general director of ManpowerGroup for Mexico, the Caribbean, and Central America, noted that "with the figures we have, a general overview shows positive data, albeit slightly less than last year." In terms of monthly comparison, in the fifth month of 2024, the IMSS recorded a drop of 25,203 jobs, showing a slight decline of 0.1 percent.

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This decrease in formal employment, according to Alberto Alesi, is the result of a reduction in temporary employment, which amounted to 46,527 jobs, “being the largest drop in temporary employees in a decade, excluding May 2020 due to the health crisis.”

He revealed that “vacation or rest periods and the conclusion of temporary agricultural work are some of the factors influencing the low pace of job creation during the second quarter, which has been cyclical.” However, for the second quarter of the year, the human capital company forecasts that Mexico could generate between 100,000 and 120,000 formal jobs.

And by the end of the year, it forecasts the generation of total formal jobs between 650,000 and 700,000. Regarding the economic sectors with the highest annual growth in jobs, according to the IMSS, are transportation and communications, with 5.8 percent; followed by commerce, with 3.6 percent; and construction, with 3.3 percent.