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Mexico Sheds 1.06 Million Jobs in November, Losses Centered in Informal Economy

INEGI's data signal mounting labor slack driven by informal-sector retrenchment that disproportionately affected women.

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El reporte detalla que, pese al aumento en la desocupación, la subocupación bajó. No obstante, los indicadores de informalidad y condiciones laborales críticas empeoraron.

Overview

  • INEGI’s ENOE shows the employed population fell by 1,058,179 in November versus October.
  • Informal work lost about 1,104,689 positions, while formal employment added roughly 46,510 jobs.
  • Women bore 94.1% of the monthly losses, accounting for approximately 996,061 positions.
  • The unemployment rate rose to 2.69%, and the extended measure reached about 10.7% as the PNEA increased by 964,000 and the “available” population grew by 378,000 to 5.56 million.
  • Formal jobs are down year over year for five consecutive months, and Banco Base warns this pattern suggests a deeper adjustment that could persist into year‑end, with 2025’s net job gains near half a million.