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42m ago

Mexico’s Jobless Rate Holds at 2.7% as Informality Climbs and Q2 Hiring Hits Decade Low

Analysts say the low headline rate masks slack, with an extended measure near 10.19%—about 6.7 million people—signaling underlying weakness.

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Overview

  • INEGI’s ENOE shows the economically active population at 61.1 million and 59.4 million employed, with unemployment up from 2.5% in the prior quarter to 2.7%.
  • Informality rose to 54.8% of workers, or 32.6 million people, roughly 398,000 more than a year earlier and the highest share since late 2023.
  • Year-on-year job creation for April–June totaled about 113,599 positions, the weakest second-quarter increase in a decade, according to ENOE data.
  • Sectorally, services added jobs—led by commerce and professional and financial activities—while construction fell by about 226,000 and manufacturing by 118,000.
  • Labor underuse indicators show 4.3 million subemployed (7.2%) and a decline in critical occupation conditions to roughly 32.5%, with women’s unemployment slightly higher than men’s (2.7% vs. 2.6%) and states such as Tabasco and Mexico City posting the highest rates.