In the first month of the year, Mexico lost 234,608 jobs. Subordinate, formal, and female employment were the most affected by the destruction of job positions, according to the National Survey of Occupation and Employment.
The contraction in employment levels was reflected in an increase in unemployment, which remained stable in the last quarters of the previous year. Thus, the unemployment rate stood at 2.9%, representing an increase of 0.3 percentage points compared to December.
The loss of employment also led to a rise in the Economically Inactive Population (PNEA), concentrated in the “available” classification. As a result, extended unemployment also showed an increase, rising from 9.9% to 10.4%.
The elimination of job positions was concentrated in the formal sector, with a loss of 395,515 positions. On the other hand, the informal economy added 160,907 individuals to its workforce. With these movements, the informality rate increased from 53.6% to 54.1%.
The only sector of the economy that experienced an overall negative balance was the industrial sector, which lost 789,295 jobs. Within this sector, employment in manufacturing led the decline, breaking the positive trend observed in the last two months.
The agriculture, livestock, and fishing sector emerged as the driving force behind job creation in January of this year, with the addition of 303,795 individuals to the employed population.
The services sector also demonstrated a strong performance in job generation, with an overall balance of 289,558 job positions. Subsectors such as restaurants, social services, and miscellaneous services showed particularly good performance.
The data from the National Survey of Occupation and Employment reveals that most of the job positions eliminated were held by women. The female workforce experienced a decline of slightly more than half a million individuals.
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