**Mexico Sees Lowest Number of Jobs Created in September in a Decade**
In September 2024, Mexico experienced the creation of 90,968 formal jobs, marking the lowest figure for this month since 2014, according to data from the Mexican Social Security Institute (IMSS). The breakdown for September includes 86,558 permanent positions and 4,410 temporary ones, resulting in a modest monthly increase of 0.4%.
From January to September 2024, the country saw a net employment growth of 456,417 jobs, a decrease not seen since 2019. By September 30, there were 22,480,803 workers registered with the Social Security, with 86.6% holding permanent roles, and 13.4% in temporary positions.
The sectors that contributed most to job creation were transportation and communications (5.4%), commerce (3.2%), social and communal services (2.3%), corporate services (2.1%), electricity (0.9%), and manufacturing (0.1%). On the flip side, the extractive industry (-0.4%), construction (-0.3%), and the agricultural sector (-4.0%) showed annual declines in formal employment.
A notable insight from the IMSS report released on October 7, 2024, is that 10 states reported employment losses: Tabasco, with an annual decrease of -11.2%, Zacatecas with -2.1%, Chihuahua with -1.1%, Baja California and Durango both with -1.0%. The list is rounded out by Sonora (-0.9%), Sinaloa (-0.7%), Campeche (-0.4%), Baja California Sur (-0.4%), and Tamaulipas (-0.3%). In Baja California, the loss of formal jobs was the second-worst of the year, following a -1.1% drop recorded in July.
**Secondary Article: Global Trends in Job Creation Reflect Economic Uncertainties**
Globally, job creation has faced significant challenges due to fluctuating economic conditions. As economies strive to recover from the impacts of the COVID-19 pandemic, new hurdles in the form of geopolitical tensions, supply chain disruptions, and inflationary pressures have emerged. According to the International Labour Organization (ILO), many countries are witnessing slower employment growth in 2024 compared to pre-pandemic levels.
In the United States, for instance, despite robust job reports earlier in the year, September saw a slowdown with only 163,000 jobs added, as noted by the U.S. Bureau of Labor Statistics. Analysts point to the Federal Reserve’s interest rate hikes as a factor cooling the job market. In Europe, while the EU has managed to maintain relatively stable employment figures, there is concern about potential recessions in key economies like Germany and France due to energy crises and reduced consumer spending.
These global patterns underline the importance of adaptive economic policies and targeted support for sectors capable of generating robust employment opportunities. As countries navigate these complex realities, strategic investments in technology, green industries, and human capital development are seen as pivotal in spurring sustainable job growth in the coming years.