Thriving Job Market in the Country: Lowest Unemployment Rate and Over 400k Jobs Created
With a significant decrease in the unemployment rate and an increase in the number of employed individuals, the National Institute of Statistics and Geography (Inegi) announced that the job market is thriving in the country. In March, the unemployment rate dropped to 2.3 percent, its lowest level on record, thanks to the boost of the secondary sector and the creation of over 400 thousand jobs.
According to ENOE figures, there were 59 million 818 thousand 274 people employed in March, an increase of 414 thousand 335 jobs compared to February. This represents a one million increase from the previous year and is 799,994 more than in March 2023. Out of this total employed population, 41.6 million were subordinate and paid workers, while 13 million worked independently, 3.1 million were employers, and 2.1 million worked in businesses or family plots.
The services sector accounted for 26.5 million people in March, with commerce employing 11.4 million and manufacturing industry employing 10.3 million people. There were also significant numbers working in agricultural activities (6.2 million), construction (4.6 million), and other economic activities (424 thousand). However, there were also those who did not specify their activity (352 thousand).
Overall, it is evident that various sectors have contributed to the positive trends seen in the job market, including a decrease in unemployment rates and an increase in employment opportunities for individuals across different sectors.
In conclusion, these positive trends reflect a healthy economy with plenty of job opportunities for those looking to enter or change careers.
It is worth noting that Inegi has been closely monitoring these developments and will continue to provide updates on any changes or trends as they emerge.
Overall, this news provides hope for those seeking employment opportunities as well as insight into how different sectors are contributing to a thriving economy overall.
