The labor market maintained its strength in November, as not only did the employed population increase compared to October, but the unemployment rate remained at a moderate level, reported the National Institute of Statistics and Geography (Inegi).
The autonomous body indicated that on this occasion it did not make the annual comparison, since the figure would show an impact when compared to the eleventh month of 2023 due to the jobs that were lost due to the hurricane. Otiswhich impacted the state of Guerrero.
According to the National Occupation and Employment Survey (ENOE), in November the employed economically active population (EAP) stood at 60 million 4 thousand 586 people, an increase of 0.22 percent monthly.
The progress is explained because in the reference period, 135,608 job positions were created, of which 123,020 were occupied by men.
Thus, the employed male population was 35 million 261 thousand 184, while women with some occupation added 24 million 743 thousand 402, which meant 11 thousand 598 new positions.
In sum, the EAP in November was 61 million 630 thousand 923 people, of which 1 million 626 thousand 337 were unemployed, representing 2.6 percent of the total population that has the conditions to work in the country. The data was 0.1 percentage points higher compared to a month ago.
By gender, the unemployment rate for women was 2.8 percent and for men it was 2.5 percent.
Of the total unemployed population, 11.8 percent did not have completed secondary education. People with a higher level of education represented 88 percent.
The ENOE showed that last November the underemployed population, that is, those who have the need and time to work more hours than their main occupation, was 5.3 million people.
The underemployment rate was 8.9 percent. The data showed a slight decrease of 0.1 percentage points compared to October. When distinguishing by sex, the corresponding rate in women was 9.3 percent and in men, 8.6 percent.
Of the total employed population, 41.5 million, representing 69.2 percent, operated as subordinate and paid workers when occupying a position or job, while 3.5 million or 5.9 percent were employers.
By sector of economic activity, 26.5 million people were concentrated in services, 11.9 million in commerce, 9.8 million in the manufacturing industry, 6.3 million in agricultural activities, 4.7 million in construction and 469 thousand in other activities such as mining, electricity , water and gas supply.
The population employed in the informal sector, that is, those who do not have access to social security and work in microbusinesses, was 32.8 million people, so the labor informality rate was established at 54.6 percent in November.
Monex analysts commented that labor data remains strong and low unemployment rates. However, they commented that they also reflect modest growth in economic activity at the end of 2024.