Mexican Labor Market Reports Positive Trends in March

The Mexican labor market saw positive trends in March, thanks to a decrease in the unemployment rate and an increase in job creation in the secondary sector. According to the National Institute of Statistics and Geography (Inegi), the unemployment rate dropped to its lowest level on record at 2.3 percent. This was due in part to the creation of over 400 thousand jobs in the secondary sector, which helped boost employment levels.

The National Occupation and Employment Survey (ENOE) revealed that the employed population in Mexico reached 59 million 818 thousand 274 people in March, marking an increase of 414 thousand 335 jobs compared to February and 799,994 jobs compared to March 2023. In terms of gender, men accounted for 35.5 million of the workforce, while women made up 24.3 million. Of the employed population, 69.6 percent were subordinate and paid workers, while 21.7 percent worked independently or on their own. Employers or employers made up 5.3 percent of the workforce, and 3.5 percent worked in businesses or on family plots without monetary remuneration.

The services sector employed the largest number of people at 44.4 percent, followed by commerce at 19 percent, and manufacturing industry at