The Mexican economy created 175,874 formal jobs in February, accumulating 287,573 jobs generated in the first two months of the year, the Mexican Institute of Social Security (IMSS) reported on Tuesday.

With these data, the IMSS records a total of 21,660,469 formal jobs, representing a monthly increase of 0.8% and an annual increase of 3.4%.

The institute claimed that, month-over-month, this is “the second largest increase since it was recorded, considering only the months of February”.

The institution closed 2022 with the creation of more than 750,000 formal jobs, the third highest annual increase since there is a record.

Figures show a recovery in employment in Mexico after the covid-19 pandemic, as it had 20.6 million formal workers registered with the IMSS in February 2020, but lost almost 1.19 million. jobs between March and July 2020. which he did not recover until November 2021.

Although the IMSS is the main indicator of formal work in Mexico, analysts warn that it presents a partial portrait because in the country almost 55% of the working population is informal, according to the National Institute of Statistics and geography (Inegi).

The IMSS pointed out that the economic sectors with the highest annual growth in formal employment are transport and communications with 5.7%, construction with 5.6% and business services with 4.4%.

While by state, Tabasco, Baja California Sur and Quintana Roo stand out with annual increases above 8.5%.

The institute also highlighted a nominal annual increase of 11.2% in the average salary, which reached 523.2 pesos per day (about 29 dollars), the largest increase recorded in the last 20 years, all months. confused.

This is “the largest increase recorded in the last twenty years considering only the months of February and, since January 2019, the contributory base salary maintains nominal annual increases equal to or greater than 6.0%” .

The agency also reported more than 1.06 million employers, as it calls employers, representing an annual increase of 1%.

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