According to the National Institute of Statistics and Geography (INEGI), the unemployment rate is currently 3.8 percent, also one of the lowest in history.
For the first time in the history of Mexico, more than 1 million formal jobs were created during the first eleven months of the year (2016).
More and better jobs
- 65 percent of the new jobs created during this administration earn over two minimum wages. During the previous six-year period, only 30 percent of new jobs earned over two minimum wages.
- 86 percent of the jobs that have been created are permanent. In the previous administration, only 60 percent of the new jobs created were permanent.
- During this administration, 58% of the new jobs created are in the service sector and the manufacturing industry; in the latter, half the jobs are in the automotive, electronics or food processing industries.
- Employment is growing at an annual rate of 3.6%, even higher than the growth of the economy.
- Nowadays, there are more workers in the formal sector, with access to social security
- On December 1, an unprecedented minimum wage increase was approved as a result of negotiations with the National Minimum Wage Commission.
- The agreement between workers, employers and the government has permitted a 15 percent recovery of the real purchasing power of the minimum wage for the first time in four decades.
- As of next year, the minimum wage will be $80.04 pesos. 9.5 percent above the rate in 2016.
“Today our economy has low inflation and is creating a significant number of jobs. In fact, we are achieving record numbers in job generation, thanks to our entrepreneurs and the investment our country is receiving”: EPN