Formal employment in Mexico has best August in history

Employment during August grew by 157,432 jobs in Mexico, which meant the strongest monthly rise for the eighth month of the year, since records have been kept, reported the Mexican Institute of Social Security (IMSS).

With this, the number of people insured by the IMSS registered a new record, standing at 21,236,866 people.

They explained that the creation of employment from January to August 2022 is 616,718 positions; while in the last 12 months a generation of 816,043 jobs was recorded. This annual creation of jobs in August is the fourth highest considering comparable periods since records are kept.

The Institution explained that the economic sectors with the highest annual monthly growth in jobs are communications and transportation with an increase of 8.6 percent, construction with 5.3 percent, and commerce with 4.1 percent.

By state, Baja California Sur, Tabasco, and Quintana Roo stand out with annual increases above 10.5 percent.

IMSS specified that in August of this year 1,067,486 employers were registered with the Institute, which represents an annual growth of 2.8 percent. With this data, the monthly increase in August is 2,699 businesses.

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