Family businesses and small businesses are the engine of formal employment; with 26% of new places

It is estimated that as of September 2021, 1 million 046,084 have been created in Mexico formal jobs more than the previous year; of which the majority will be generated by micro-businesses (26%) and small companies (24 percent).

The significant increase in the level of new formal jobs is also linked to the recovery of the service sector, one of the most affected during 2020 by the Covid-19 health crisis, according to the sectoral breakdown of the IGAE (Global Indicator of Economic Activity), an experimental project of Inegi.

The professional services, scientists and technicians are the group that is expected to have the most important growth in job creation with between 140,000 and 160,000 more jobs than last year.

On the other hand, the top three sectors that generate formal employment would be completed by tourist services and educational services, with between 100,000 and 120,000 new jobs registered under social security.

This situation would reflect a positive employment impact of three activities that relaxed restrictions after a year of pandemic: the gradual return to offices, the return of students to classrooms and the reactivation of sightseeing National and international.

The Inegi projections on accumulated formal employment in the last 12 months are aligned with the monthly publications of the IMSS (Instituto Mexicano del Seguro Social), which has seen positive results in recent months. This ninth month of 2021 was the best September in history in terms of job creation.

Additionally, the holiday season is one of the seasonal factors that most strongly encourages the dynamism of the working market; although a large part of these places are temporary.

Labor dynamism will also depend on the behavior of the national economy, which is expected to close 2021 with a rebound of between 4 and 6 percent.

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