Mexico’s unemployment rate dropped to a lower 2.2% in March, but more than half of the country’s workers occupy informal jobs, according to the National Agency for Statistics Inegi.
The unemployment rate went from 2.5% in February to reach its lowest level ever recorded.
The lowest unemployed unemployment rate was 2.3% in March 2024. Unemployment did not exceed 3% of the “economically active population” (PEA) last year.
Gabriela Siller, director of economic analysis in Banco Base, noted that the unemployment rate had continued to look in March (it was 2.7% in January), but said that “the quality of jobs” is “is not ideal”.
This assertion is saved by the INEGI data which show that around 40% of workers earn the minimum or less wage, and an additional 30% earn 1-2 minimum wages (see below).
Siller stressed that the number of people in the jobs in the informal sector – street vendors and many domestic workers, for example – remain at a “high” level.
Here are the most important results of The national national and national employment survey of INEGI.
“Economically active population of Mexico”
- The pea of Mexico – people aged 15 or over in jobs or work research – had 61.1 million in March.
- Of the total of the pea, 59.7 million people had a job while 1.4 million people were looking for work. The unemployment rate of 2.2% in March is derived from these figures.
- The number of people in jobs has increased by more than 560,000 compared to February, the best result for the creation of jobs since last July.
- About 59% of people who were employed in March are men while others are women.
- Some 800,000 men were looking for work in March while around 600,000 women were looking for a job. Therefore, 57% of Mexico job seekers are men and the others are women.
- Unemployment among women was 2.3% last month, slightly higher than 2.2% in men.
The unemployment rate in Mexico decreased to 2.20% in March, compared to 2.50% in February 2025.https://t.co/vnaz7xbivf pic.twitter.com/7lb3hmi0kx
– Commercial economy (@teconomics) April 28, 2025
Underemployment makes vibrate
- About 3.9 million people were underemployed in March, compared to 3.7 million in February.
- Of the 59.7 million jobs, 6.6% were classified as underemployed, compared to 6.3% in February and 6.5% a year earlier.
54% of workers employed in the informal sector in Mexico
- The percentage of workers employed in the vast informal sector of Mexico increased to 54.4% in March, against 54.5% in February.
- A total of 32.5 million workers occupied informal jobs last month. These people do not pay income tax and do not have access to services such as disease wages, health care and paid vacation.
- The percentage of workers in the informal sector jobs in March was 54.8%, lighter higher than the rate of 54.1% for male workers.
Employment by sector
- Almost half of all workers – 45.4% – were employed in the services sector in March. A total of 27.1 million people worked in this sector last month.
- Just under 20% of workers were employed in the “trade” sector, which includes retailers and wholesalers. This sector includes many informal workers, such as street sellers.
- Sixteen percent of all workers were employed in the manufacturing sector of Mexico, An export power.
- Almost 10% of workers worked in the agricultural sector.
- Just under 8% of workers were employed in the construction industry.
How much do Mexican workers earn?
- Almost 40% of workers earn the minimum or less wage, according to INEGI data for Mars. The minimum wage of Mexico is currently set at 278.80 pesos (US $ 14.25) per day, or 8,364 pesos per month (US $ 427), in most of the country.
- Almost 30% of workers earn 1-2 wages minimum (US $ 427 at $ 854 per month).
- A little more than 6% of workers earn 2-3 minimum wages ($ 854 at $ 1,281 per month).
- A little more than 2% of workers earn 3 to 5 minimum wages ($ 1,281 to $ 2,135 per month).
- Only 1% of workers earn more than 5 minimum wages (more than $ 2,135 per month)
- The salary of around 17% of workers was not “specified”, according to INEGI, while around 4% of people in jobs are not remunerated for their work.
With reports from The Economist And Make an efe
