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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).
In December, a loss of 385 thousand jobs was recorded, marking the strongest seasonal adjustment since 1998. Employment closed the year with an annual growth of 3.0% but was below consensus expectations. The monthly decrease in employment (-)1.…
Despite the labor market's resilience, the slowdown in job creation in 2023 is reflected by the 2.7 million additional jobs, considerably fewer than the previous year. The unemployment rate in December remained at 3.7%, largely explained by the…
… 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…
Job creation in October (+150,000) was lower than consensus expectations (180,000), indicating a slowdown despite solid real GDP growth in previous quarters (4.9% in the third quarter of the year, SAAR).
The formal job creation continues to show strength, with a year-on-year growth of 3.4% in September; in cumulative figures from January to September 757K new jobs have been created, the fourth-highest since 1998.
Cantabria's economy will grow by 2.0% in 2023, and will accelerate to 2.5% in 2024. This will allow a return to the pre-pandemic GDP level this year.
Asturias' GDP could grow by 2.1% and in 2023 recover the pre-pandemic level. By 2024, the increase in activity will accelerate to 2.5%, and during that year it is expected to be able to recover GDP per capita. If these forecasts are met, Asturi…
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…
Good year in terms of employment growth and unemployment reduction for Colombia in 2022. In the main cities, the unemployment rate was reduced with respect to 2021.
Growth expectations and the macroeconomic environment for 2023 set a less encouraging scenario for job creation in 2023. We expect 527K new jobs to be created by the end of the year, equivalent to a year-on-year growth rate of 2.5%.
