Record-breaking job growth registered in October

Formal sector job generation hit the highest increase on record for a single month in October, with 207,968 new jobs, bringing Mexico’s current total of formal jobs in existence to 21.6 million as of Oct. 31.

Formal sector job generation hit the highest increase on record for a single month in October, with 207,968 new jobs, bringing Mexico’s current total of formal jobs in existence to 21.6 million as of Oct. 31.

According to Mexico’s Social Security Institute (IMSS) the October increase represents a 1% growth compared to September and 4% growth compared to October 2021.

A total of nearly 1 million new jobs have been created so far this year, the second-highest total of jobs created between January through October since recording began in 2000, according to IMSS Director Zoé Robledo.

The highest figure for jobs created ever recorded between January and October occurred in 2017, when Mexico created 1.7 million jobs. Of 2022’s current total of 997,178 new formal jobs, 68.4% have been permanent. 

October’s job creation increase was also well spread out around the country: Sonora was the only state that reported a decrease in the 10th month of the year, with 1,639 jobs lost.

October’s job creation increase was also well spread out around the country: Sonora was the only state that reported a decrease in the 10th month of the year, with 1,639 jobs lost.