Mexico Creates 288,000 Jobs YTY in OctoberBy Emilio Aristegui | Tue, 11/30/2021 - 15:25
The National Institute of Statistics and Geography’s (INEGI) National Survey of Occupation shows that 2.3 million people are currently looking for employment in Mexico, even though the country created 288,000 jobs year-over-year in October.
Mexico’s job creation rate slowed down from Sept. 2021, in which the country recorded the creation of 344,000 jobs, meaning that 4.2 million more people were employed in comparison to the same month in 2020, as reported by MBN. In two months, Mexico has grown over 632,000 thousand jobs.
In Oct. 2021, Mexico’s Economically Active Population (EAP), those aged 15 and over who are currently working or actively looking for employment, amounted to 58.7 million, 3.3 million more than last year. Mexico’s Non-Economically Active Population (PNEA) was reduced by 1.3 million from Oct. 2020.
Mexico’s subordinate workers, those working for a third party, represent 67.3 percent of the EAO and grew by 1.9 million from the beginning of the year, representing a major improvement to the country’s labor market in comparison to 2020. About 13.2 million people work independently.
The country still has a strong unemployment problem, with 2.3 million people looking for work. While the number of unemployed individuals decreased by 288,000 in Oct. 2021, Mexico still faces a major unemployment crisis as it struggles to provide new job opportunities for those who were let go because of the COVID-19 pandemic in the local economy and its labor market.