Overview
- In March, Inegi’s ENOE, released Friday, counted 61.6 million in the labor force, 60.15 million employed and 1.49 million unemployed, with 116,000 jobs lost versus February.
- Manufacturing shed about 385,000 jobs in the month and construction lost about 185,000, with slower hiring in parts of services such as social services and transport.
- Informal work reached 33 million people, placing the informality rate at 54.8% after twelve straight months of increases cited by analysts.
- Job quality weakened as underemployment edged up to 6.7% and workers in critical conditions reached about 39.6% of the employed, roughly 24 million people.
- Outlets reported different jobless rates for March, with some citing 2.4% and others 2.8%, though all used the same ENOE counts and described a clear loss of momentum.