*Mexico’s national statistics institute (Inegi) has released new figures revealing that the unemployment rate of the economically active population – consisting of 61.6m people aged 15 and older – rose to 2.6% in November 2024, up from 2.5% recorded in October of the same year. Inegi did not provide a year-on-year comparison of the unemployment rate, as it was unable to complete a measurement in November 2023 due to the impact of Hurricane Otis in southern Mexico. In November, informal workers totalled 32.8m, putting the country’s informality rate at 54.6%. Meanwhile, 5.3m individuals reported being underemployed, meaning they expressed the need and availability to work additional hours. This group represented 8.9% of the employed population. Employment by sector showed that the majority of employed people (44.1%) worked in services, while 19.8% were employed in retail, 16.4% in the manufacturing industry, and 10.5% in agriculture.
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