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Mexico’s Jobless Rate Ticks Up to 2.7% in Q2 as Labor Force Expands

Informality rose to its highest level since late 2023 with underemployment also higher, signaling pressure on job quality.

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Overview

  • INEGI reported the PEA grew by 573,770 to 61.1 million, reflecting a larger number of people actively seeking work.
  • The employed population increased by 439,751 to 59.4 million, while the number of unemployed rose by 134,019 to 1.6 million.
  • Labor informality climbed to 54.8%, adding 546,349 people for a total of 32.6 million workers without formal protections.
  • Underemployment reached 7.2%, equivalent to 4.3 million people, an increase of 386,258 compared with the prior quarter.
  • Job gains were led by services (+212,554) and the primary sector (+156,099), manufacturing added 46,763, and construction lost 15,934, with unemployment higher in large urban areas (3.2% in 100,000+ localities) and longer job searches rising year over year.