In a year marked by economic slowdown, employment figures closed at levels similar to 2024 with an annual increase of 1.1 million people employed and an unemployment rate of 2.4%. While the unemployment rate remains low, and even President Claudia Sheinbaum celebrated in recent days that Mexico is the second country with the lowest unemployment at the close of 2025, the truth is that looking at the details adds a point of concern: the sustained growth of informality in the final stretch of the year. Data published this Monday by INEGI reveal that in December, the employed population reached a total of 60.4 million people, which represented 97.6% of the component and a monthly increase of 537,000 people. The metallurgical industry plummeted in December and had its worst year since the pandemic. But at the same time, it is observed that the labor informality rate stood at 54.6%, an increase from the 53.7% recorded last year, affecting a total of 33 million people. According to the latest INEGI data, economic activity retreated in November by 0.2% monthly and 0.1% annually, after a rebound in October, which suggests that GDP had a growth close to the 0.3% that analysts estimate at the end of last year. 'The data reveals that the annual growth in employment in recent months has been entirely explained by informal employment,' said Gabriela Siller, director of Banco Base. Regarding the underemployed population category—which incorporates people who reported being available to offer more hours of work than their current occupation allows—there were 3.7 million people (6.2% of the employed population). Although a better growth of up to 1% is expected, the economy will persist on weak ground in an environment of commercial uncertainty regarding trade relations with the US, which implies that investment brakes will continue, and consequently, fewer jobs and lower quality of them. Data that INEGI will confirm next Friday. Sheinbaum justified the deterioration in employment by arguing that the strategic works of her government are just beginning and that this year was also determined by tariffs that affected the automotive and steel and aluminum industries. Meanwhile, the employed population in the formal sector registers an annual contraction of 0.38%, marking six consecutive months of annual declines. 'Furthermore, the increase in the minimum wage adds challenges for companies, particularly in labor-intensive activities, which could limit and reinforce the pressure on the quality of employment during the period,' added Janneth Quiroz Zamora, an economist at Monex. A data point that also signals affected activity. Although the unemployment rate remained at low levels, this behavior occurs in a context of lower labor participation, moderation in the employed population, and a rebound in informality. Additionally, although unemployment remained low, it is also worth noting that it occurred with pressures on employment by sectors: significant decreases were registered in the number of people employed in manufacturing and social services. The employment data confirm the freezing of the economy at the end of the year. However, she assured that this year will be better since the government seeks to accelerate investment and support agricultural day laborers. In the last month of the year, automotive production collapsed by 30%. However, analysts warn that the challenges will persist this year.
