Employment: Dual Behavior

The IMSS announces the generation of jobs in February, which registers a monthly increase of 125,982 jobs. For the first two months, the jobs created are 220,628.

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It is worrying that the jobs created in services are only 49,088 positions, far from the 76,096 generated in 2018. The annual growth rate for employment in services is 2.73%, the weakest growth since April 2014.

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On the other hand, the growth rate of employment in businesses is 2.86%, also the lowest growth since 2014. The stagnation of employment in CDMX influences, which has barely generated more than a thousand jobs so far this year.

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As a counterweight, we find the generation of 93,603 jobs in manufacturing, which although it also presented a certain slowdown, maintained year-on-year growth of 4%, higher than the other sectors of the economy. Manufacturing is benefiting from strong demand in the United States, which allows it to expand the labor base in the sector.

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The doubts are how much the salary increases will affect the rate of hiring of personnel, and what will be the reaction of the companies to the changes in union matters.