Informal employment reaches at least 21 months: Inegi

Speed informal employment in Mexico reaches its lowest level since March 2022, data shows National Institute of Statistics and Geography (Inegi).

According to National Survey of Employment and Employment (ENOE), In the tenth month of the year, there were 31.7 million people in informal employment. Thus, the level of informal employment in the country amounted to 53.6% of those employed.

This figure decreased by 1.3% compared to the same period in 2022. Likewise, it was lower than in November, when there were 31.8 million such workers, and October, when 32.9 million were registered.

This point reached its lowest level in the last 21 months, that is, since March 2022, when it stood at 31.6 million.

In turn, speed unemployment In Mexico, it accounted for 2.6% of the economically active population (EAP) last October.

The indicator has not changed compared to November. Likewise, it was 0.1 percentage point lower than the same month a year earlier.

The total unemployed population (counts those who do not work but are looking for work) amounted to 1.6 million people, an annual decrease of 59 thousand, Inegi reports.

General overview of employment in Mexico

According to the organization, there were 60.7 million people aged 15 and over in the EAP in the last month of 2023, representing a participation rate of 59.9% and an active population 472 thousand higher than in December 2022.

EAP employed 59.1 million people (97.3%) in December, up 1.2 million from the same month a year earlier and up from 58.2 million in November.

People underemployment, That is, those who stated that they have the need and opportunity to work more hours were 4.5 million, that is, 7.6% of the employed population. Compared to the same month in 2022, this figure increased by 309 thousand.

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When dividing the employed population by sector of activity, 43.6% of the total was employed in the economic sector. services, while trade concentrated 19.5%, industry production by 17.1%, activity agricultural at 10.5% and construction at 7.9%.

While in “other economic activities”, which includes mining industry, electricity, water and gas supply, 0.7% were employed, another 0.6% did not indicate activity.

Employment rates for men and women

By gender, the female EAP in October amounted to 24 million 918 thousand 104 people, of which 24 million 272 thousand 53 were employed and 646 thousand 51 were unemployed. The rate of women’s participation in economic life was 46.3%.

In turn, the male figure was 35 million 815 thousand 748 people, of which 34 million 874 thousand 362 were employed and 941 thousand 386 were unemployed. This represents an economic participation rate of 75.2% among working age men.