The Mexican Social Security Institute (IMSS) reported that 159,998 jobs were created in October 2019.
So far from January to October, the change in employment is 648,059 jobs, of which 80% is permanent jobs.
Job creation in the same period of January-October 2018 was 937 thousand 724 posts. That is, in 2019 289 thousand fewer jobs have been created than in the same period of a year ago.
According to economist Valeria Moy, from Mexico how are we doing? it is the lowest accumulated employment generation for the first 10 months of a year since 2013, when it was 590 thousand 393 places.
Here are the latest formal job creation data: ? https://t.co/AaFDTeQlV5
— Valeria Moy (@ValeriaMoy) November 12, 2019
While in monthly terms, it is the lowest job creation for an October since 2015; in that year, 146,079 formal jobs were generated. Compared to the generation of formal employment in October 2018, the figure is 2% lower.
3) In monthly terms, it is the lowest job creation for an October since 2015; in that year, 146,479 formal jobs were created. Compared to the generation of formal employment in October 2018, the figure is 2% lower: pic.twitter.com/2ZpEsML2F3
“Mexico, how are we doing? (@MexicoComoVamos) November 12, 2019
In a statement, the IMSS detailed that job creation in the last twelve months is 371,245 jobs.
As of October 31 of this year, 20 million 727 thousand 424 jobs are registered with THE IMSS. Of these, 85.6% are permanent and 14.4% eventual.
“This annual growth is driven by the agricultural sector with 5.3%, communications and transport with 5.2% and trade with 2.9%. The states with the highest annual membership increase are Nayarit, Campeche and Querétaro, over 5.5%,” he said.
The Institute also detailed that as of 31 October, 782,200 people linked to the Young Building the Future Programme already have medical service at IMSS.
In that mese, 11,947 people joined the Home Workerpilot Program. This is 354% more than the workers insured in the previous scheme of modality 34 “Domestic Workers”.
The average monthly salary associated with the Home Workerpilot Program is 4,675 pesos.
As of October 31, 2019, the base wage of the contribution of workers insured to the IMSS reached an amount of 373.2 pesos. “This salary represents a nominal annual increase of 6.4%, which is the highest recorded for one October of the last ten years and, for the tenth consecutive month, the base wage of contributions recorded nominal annual growths of more than 6.0%.
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