Mexico Created Nearly 200,000 Official Jobs in February: IMSS

The Mexican economy has created 175,874 official jobs in Februarywhich created 287,573 jobs in the first two months of the year, the Mexican Social Security Institute said on Tuesday (IMSS).

With this data, IMSS registers a total of 21,660,469 formal jobswhich represents a monthly increase of 0.8% and an annual increase of 3.4%.

The Institute confirmed that on a monthly basis, this is “the second largest increase since the filing, when only the months of February are considered.”

Photo: Photolaboratory

The institution closed in 2022 with the creation of over 750,000 formal jobsthe third largest annual increase on record.

The figures show the recovery of employment in Mexico after the coronavirus pandemic. COVID-19as there were 20.6 million formal workers registered with IMSS in February 2020, but almost 1.19 million jobs were lost between March and July 2020, not recovering until November 2021.

Although the IMSS is the main indicator of official performance in Mexico, analysts warn that it is a partial portrait, as the country nearly 55% of the workforce is informalIt is reported by the National Institute of Statistics and Geography (Inegi).

You may be interested > Do you want to work at Tesla? Check out their jobs in Mexico

The IMSS highlights that the sectors of the economy with the highest annual growth in formal jobs are transport and communication from 5.7%, construction from 5.6% and business services from 4.4%.

While Tabasco, Baja California Sur and Quintana Roo stand out by states with an annual increase of more than 8.5%.

The Institute also noted a nominal annual increase of 11.2% in average wages, which reached 523.2 pesos per daythe highest growth recorded in the last 20 years considering any month.

Photo: Photolaboratory

This is “the highest growth recorded in the last twenty years, considering only February and from January 2019, the base salary of contributions maintains a nominal annual increase equal to or greater than 6.0%.”

The agency also reported more than 1.06 million employers, as it calls employers, representing an annual increase of 1%.


Source: Aristegui Noticias