In October 2024, unemployment in Mexico decreased, compared to the same month in 2023, as did the number of people working informally; However, the percentage of the population that worked more hours increased either out of necessity or availability, according to information published by the National Institute of Statistics and Geography (Inegi).
Based on original figures (without seasonal adjustment), in October of this year, the Economically Active Population (PEA), which accounts for the labor force in the country, totaled 61.4 million people, which implied a participation rate of 60.2%. This population was higher than that of October 2023, by 317,000 people.
Meanwhile, the non-economically active population (PNEA) was 40.5 million people, 593,000 more than in the tenth month of 2023.
Unemployment
In the reference month, the unemployed population was 1.5 million people and the unemployment rate (TD) was 2.5%, as a percentage of the EAP. Compared to October 2023, the unemployed population decreased by 142,000 people and the TD was lower by 0.2 percentage points.
The unemployed male population stood at one million, in October 2023, and at 901,000, in October of this year. The female figure went from 640,000, in the tenth month of 2023, to 635,000, last October. In the reference month, the unemployment rate (TD) for men and women was 2.5%.
In the tenth month of this year and with seasonally adjusted figures, the TD decreased 0.2 percentage points. The underemployment rate grew 1.4 percentage points.
Underemployment
Within it, underemployed people, those who declared they had the need and availability to work more hours, were 5.6 million (9.4% of the employed population). This meant an increase of 944,000 people compared to the same month a year earlier.
When distinguishing by sex, in the reference month, the corresponding rate in men was 9.7% and in women, 9%.
Informality
In October 2024, the population employed in informal labor was 32.4 million people and the labor informality rate was 54.1% of the employed population. This represented a drop of 1.3 percentage points compared to the tenth month of 2023
Employed population
Of the EAP, 59.9 million people were employed (97.5%) last October: 459,000 more than in October 2023.
Of the total number of employed people, 41.7 million (69.6%) operated as subordinate and paid workers when occupying a position or job, which represented an annual increase of one million.
In addition, 12.8 million (21.4%) worked independently or on their own without hiring employees: 658,000 fewer people compared to October 2023.
For their part, 3.5 million (5.8%) were employers, a figure that increased by 382,000 people.
Finally, 1.9 million people (3.2%) worked in businesses or on family plots; That is, they contributed directly to the production processes, but without an agreement for monetary remuneration. This meant an annual reduction of 289,000.
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