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News Article

August Records Highest Monthly Job Increase in History

By Emilio Aristegui | Mon, 09/13/2021 - 13:39

A recent report by the Mexican Social Security Institute (IMSS) report points to the rise of registered employees on its platform during August. This represented the greatest monthly growth during an August since the existence of records.

IMSS also highlighted, via the same report, the all-time high in the share of permanent employment as August continued to break ground for the country thanks to the massive register of new employees. “As of Aug. 31, 2021, there are 20.42 million jobs registered with IMSS; of these, 87.2 percent are permanent and 12.8 percent are temporary. The share of permanent employment is the highest in the last 11 years.” The importance of temporary jobs is extremely relevant as the country continues to recover its economy after the 2020 crisis.

The massive increase during August represented an important step for the economy considering the robust impact these numbers add to the employment rate, according to IMSS. “In August there was a monthly increase of 128,900 positions equivalent to a monthly rate of 0.6 percent. This increase is the highest for the month of August since the existence of a record.” Should the rate continue during the following months, Mexico could recover the thousands of lost jobs during the COVID-19 pandemic.

IMSS’s long-term analysis showcases Mexico’s growth during the last year and indicates an important milestone for the country’s economic recovery. “Job creation from August this year is of 647,091 positions. During this period, permanent employment increased by 804,519 positions and temporary employment decreased by 157,428 positions.” The consolidation of new jobs has had a tremendous impact as thousands gained permanent positions throughout 2021. The record continues to excel: “In the last twelve months there was an increase of 832,481 positions, equivalent to an annual rate of 4.2 percent.” The country’s growth continues to take major steps and the following months will be extremely important as Mexico tries to employ those affected by the 2020 crisis.

 

The data used in this article was sourced from:  
IMSS
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Emilio Aristegui Emilio Aristegui Junior Journalist and Industry Analyst