The National Institute of Statistics and Geography (Inegi) reported that the unemployment rate dropped to 2.3 percent in March, its lowest level on record. This significant decrease was due to the boost of the secondary sector and the creation of over 400 thousand jobs in the month. According to the National Occupation and Employment Survey (ENOE), the country’s employed population was 59 million 818 thousand 274 in March, an increase of 414 thousand 335 jobs compared to February and 799,994 more than in March 2023.
The decline in unemployment rates can be attributed to various factors such as the growth of subordinate and paid workers, independent workers, employers, and business owners. Out of the total employed population, 41.6 million were subordinate and paid workers, representing a one million increase from the previous year. Meanwhile, there were 13 million independent workers, 3.1 million employers, and 2.1 million who worked in businesses or family plots.
In terms of economic sectors contributing to this positive trend, there were significant increases in employment numbers across many industries such as services (26.5 million), commerce (11.4 million), manufacturing (10.3 million), agriculture (6.2 million), construction (4.6 million), and other economic activities (424 thousand). Additionally, there were also substantial growths in employment numbers for individuals who did not specify their activity (352 thousand).
Overall, Inegi’s report highlights a healthy and thriving economy with significant growth across various sectors that have contributed to a decrease in unemployment rates and an increase in employment numbers overall.
The positive trends reflected by Inegi’s report indicate that the job market has seen significant growth due to various factors such as increased employment opportunities across different sectors and industries.
According to ENOE figures, employment numbers have increased significantly across many sectors including services (26.5 million), commerce (11