Published on Monday, June 17, 2024 | Updated on Tuesday, June 18, 2024

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

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.

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