**Baja California Loses Over 10,500 Formal Jobs in September**
In a concerning economic shift reported as of September 30, 2024, Baja California experienced a significant decrease in formal employment, as registered by the Mexican Social Security Institute (IMSS). The state reported a total of 1,041,897 formal jobs, marking a loss of 10,514 jobs compared to the same period last year when there were 1,052,411 jobs on record.
Tijuana, a major city in the region, had the highest concentration of these jobs, with 585,577 formal positions, making up 56% of the total. This was followed by Mexicali with 273,226 jobs (26%), Ensenada with 132,168 jobs (12%), Tecate with 30,543 jobs (2.9%), and Playas de Rosarito with 19,507 jobs (1.8%). San QuintÃn and San Felipe recorded even lower figures, each contributing less than 1% with 864 and 12 jobs, respectively.
On a national level, Mexico saw the creation of 90,968 jobs in September, the lowest number for the month in a decade. Historically, September is a strong month for job creation, often surpassing 100,000 new positions annually.
Alberto Alesi, General Director for a major workforce solutions company in Mexico and Central America, commented on the situation, emphasizing that despite some positive employment figures in the third quarter of the year at 161,359 jobs created, this still fell short of the 250,000 jobs projected.
Alesi noted an apparent freeze in investments, not due to job destruction, but rather due to uncertainty over legal security, suggesting a cautious approach from businesses. Furthermore, the country saw a loss of 3,000 temporary positions in the first nine months of 2024 despite the positive trend reported in September.
Moreover, the unemployment rate has been rising for three consecutive months, reaching 3.0% in August, which translates to 1.9 million unemployed individuals, according to the National Survey on Occupation and Employment by the National Institute of Statistics and Geography (INEGI).
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**Additional Insights: National Employment Trends**
In recent economic updates, the national job market in Mexico faced a significant test with September’s figures indicating a decade-low for the month. Analysts attribute this to a combination of seasonal employment shifts, macroeconomic uncertainty, and transitional business strategies as companies adapt to changing market conditions.
Economic forecasters continue to monitor these trends closely, especially with upcoming fiscal policies and investment climates expected to impact job creation. Leveraging innovation and digital transformation may become pivotal strategies for mitigating job losses and spurring economic growth in the coming months. The government’s role in facilitating conducive environments for businesses and workforce resiliency will be crucial as the nation navigates this employment landscape.
As the global economy remains uncertain, Mexico is anticipated to enhance efforts in sectors that showed resilience during these downturns, such as technology, renewable energy, and education, to buffer employment numbers. These efforts aim to create sustainable job opportunities and enhance skill development among the workforce, promising a more robust economic outlook moving forward.