Home » Business » Labor market had a slight decline in September: Inegi

Labor market had a slight decline in September: Inegi

Mexico City. The labor market observed a slight setback in September, as 275,986 jobs were lost compared to August, particularly affecting positions held by men, the National Institute of Statistics and Geography (Inegi) reported this Friday.

In the ninth month of 2024, the employed population was 59 million 494 thousand 233 people, data that showed a decrease of 0.46 percent compared to the previous period.

However, the figure was 0.56 percent higher compared to the 59 million 700 thousand 219 employed people reported in September 2023.

According to the data from the National Occupation and Employment Survey (ENOE), in the reference period the population that observed the most impact was the male, because while in August they added 35 million 478 thousand 347 jobs, by September it was reduced in 571 thousand 668, to reach 34 million 906 thousand 679. In its annual variation, a loss of 177 thousand 799 jobs was observed.

For its part, the number of employed women in the ninth month amounted to 24 million 517 thousand 554, a figure that was 295 thousand 682 higher than the previous period. Compared to the same period in 2023, there was also an increase in the number of positions occupied by the female population, which was 513,026.

In total, the economically active population (EAP), that is, was 61 million 213 thousand 197 people, data that showed an increase of 373 thousand 579 compared to September 2023, but a reduction of 357 thousand 106 per month.

The number of unemployed people in Mexican territory was 1,788,964, data that showed an increase of 38,352 compared to the same period last year, but was reduced by 81,156 compared to last August.

Therefore, 97.1 percent of the PEA was occupied during the ninth month of 2024.

By sector, services concentrated 26.3 million people, a figure that represented 44.3 percent of the total employed population; trade,

11.6 million, that is, 19.5 percent; the manufacturing industry, 9.7 million, a figure that represented 16.4 percent of the total; agricultural activities, 6.4 million, an amount that represented 10.8 percent; construction, 4.6 million, which translated into a participation of 7.8 percent.

In its annual variation, the sectors with the greatest increase in their employed population were: transportation, communications, mail and storage, with 148 thousand people; restaurants and accommodation services, with 132 thousand, and social services and various services, with 130 thousand each.

Underemployed people, that is, those who declared they had the need and availability to work more hours, totaled 4.9 million, a figure that represented 8.2 percent of the total employed population. The percentage is the same as that registered in September 2023.

This meant an increase of 28 thousand people compared to the same month a year before. Compared to August, it meant an increase of more than 100 thousand people.

By sex, in the reference period, the corresponding rate in men was 8.5 percent and in women, 7.7 percent.

In September 2024, the informally employed population was 32.2 million people and the labor informality rate was 54.2 percent of the employed population, which meant a reduction of 0.1 points annually. The data was lower compared to August, when there were 32.4 people with jobs without social security.

In terms of salaries, 22 million 612 thousand 479 people received up to one minimum wage, data that showed a reduction of one million 138 thousand 376 compared to the ninth month of last year. Compared to August, it decreased by 182,503.

The population that received more than one minimum wage up to 2 was 19 million 281 thousand 851, data that showed an increase of 1 million 555 thousand 734 compared to the ninth month of 2023 and compared to August it decreased by 469 thousand 563.

The number of workers who received between 2 and 3 minimum wages was 4 million 075 thousand 676, a figure lower by 224 thousand 254 compared to September 2023 and compared to the eighth month it was higher by 26 thousand 032.

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