During the last month of 2024, the unemployment rate in Mexico reached its lowest level since March of the same year, recording 2.28 percent, according to the figures from the National Occupation and Employment Survey (ENOE). This decline is the second consecutive one, as in December 2024 the rate was at 2.43 percent. This is partly due to an increase of 175 thousand people in the employed population, totaling 59.3 million in the same month.
"This is important, as not only is there job creation, but the jobs that are created are, on average, getting better, as fewer people require additional work to meet their needs. However, the rate remains high compared to the historical minimum recorded in June 2006," highlighted Banco Base in an analysis.
Regarding the sectors where new jobs were reported during December 2024, data from Inegi revealed that 70.1 percent of the employed population worked as subordinate and paid workers, while 20.9 percent did so independently. 5.9 percent were employers, and 3.1 percent worked in family businesses.
The majority of workers were employed in the service sector, with more than 26.7 million people employed, followed by commerce with 11.5 million, manufacturing industry with 9.7 million, agricultural activities with 5.9 million, and construction with 4.7 million.
In the reference month of December, the economically active population (EAP) was 60.8 million people aged 15 and older, representing a participation rate of 59.3 percent, an increase of 66 thousand people compared to December 2023.
