IMSS reports loss of 29,000 formal jobs in May

Filipino

The Mexican Social Security Institute reported a monthly drop of 29,922 formal jobs in May 2026.

The IMSS recorded 22,718,681 affiliated formal jobs as of May 31. This figure is the fifth highest on record and the highest for a May month. The 0.1 percent monthly decline was attributed mainly to seasonal factors in the agricultural sector and the cancellation of a fraudulent employer registration. Between January and May, 201,605 formal jobs were created. Over the past 12 months, formal employment grew by 346,637 positions, an annual rate of 1.5 percent. The average contribution base salary reached 671.3 pesos per day, the highest level recorded for any month.

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Mexican formal workers earn more amid slower job creation

IMSS data show the average contribution salary hit a record of 663.50 pesos daily in March, up 7.1% nominally. Yet, formal job creation in the first quarter was the weakest in two decades, excluding past crises. This boosts informality and underemployment, analysts say.

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The National Survey of Occupation and Employment (ENOE) reported that in March 2026, the employed population reached 60.2 million people, up 422,000 from a year earlier. The unemployment rate fell to 2.4 percent and underemployment to 6.7 percent, though labor informality held steady at 54.8 percent.

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