In October 2024, Mexico recorded growth in formal employment. The total number of insured individuals increased by 7.1% compared to October 2023, equivalent to an increase of 41.5 pesos. This figure represents the fourth-largest increase for any October on record.
The growth is linked to the integration of digital platform workers, such as delivery drivers and app-based drivers, into the social security system. Starting in July and August, the mass registration of these worker categories began. The Mexican Institute of Social Security (IMSS) distinguishes between jobs associated with an employer and self-affiliated workers. This broader category includes both traditional formal jobs and new beneficiaries of the digital platforms reform.
In this broader segment, the total number of registered individuals reached 24.3 million, reflecting the impact of integrating platform workers into the social security system.
The sectors with the highest growth were transportation and communications (9.6%), commerce (2.9%), and electricity (2.8%).
The number of registered employers was 1.4 million, which represents a 2.3% annual decrease. According to IMSS, by the end of the month, 22.8 million jobs were registered, of which 86.8% are permanent and the rest are temporary.
In October, 217,491 jobs were created, a monthly increase of 1%. Compared to October of last year, the increase was more modest: 170,231 jobs, or 0.8% more.
Among the states, Estado de México, Mexico City, and Hidalgo stood out with annual growth greater than 2.5%.
The average daily contribution base reached 622 pesos, the highest level for an October on record. Additionally, within the pilot program for digital platforms, 1.1 million people have already benefited, of whom 150,000 have surpassed the income threshold required to be recognized as formal jobs.
In October, 60,000 domestic workers and 365,000 independent workers were also registered in voluntary insurance schemes, both with full access to the five IMSS insurances.
So far this year, the increase amounts to 550,794 jobs, equivalent to a growth of 2.5%. IMSS explained that the decrease is due to security measures applied in the opening of employer registrations for individuals.
The institute also reported that it provides coverage to 8.8 million people in other modalities, such as Optional Insurance, Family Health Insurance, and Voluntary Continuation.
Formal employment reached its highest level on record in October.
