Mexico | Formal Employment still grows but labor productivity falls

Summary

In August, 36.6 million new formal jobs were registered according to the Mexican Social Security Institute, with this figure a total of 20.4 million insured workers were registered. From January to August 342 thousand new jobs were created, 46.9% less compared to the same period of the previous year.

Key points

• Key points:
• Permanent employment grew 2.1% at an annual rate and the eventual presented an annual negative growth rate of -0.4%
• The Global Indicator of Labor Productivity of the Economy presented a 1.7% fall at an annual rate in the second quarter of the year
• The construction sector has shown the worst performance with an annual rate of -3.4%

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