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Mexican Jobs at a 14 Year High

13 September, 2012

While signs of a stronger Mexican economy were rampant in 2010,another piece of good news came just at the end of the year. In a recent joint press conference,Finance Secretary Ernesto Cordero released new figures on the state of the Mexican economy. One of the most encouraging was the job growth that occurred during 2010.

In the twelve month span,the Mexican economy created 730,348 net new jobs. This figure represents the highest new job rate in the past 14 years,reports Fox News.

“Without a doubt,this is good news and we can anticipate that the good news will continue during 2011,” said Cordero. The press conference also featured news from Labor Secretary Lozano.

The jobs were composed of 70.1% permanent jobs and the remainder were temporary positions. Even with the percentage of temporary positions,the news is positive and sets a new record.

“We haven't seen similar figures since 1996 with regard to the creation of jobs,” said Lozano. The Secretaries also released figured on the sectors that encompassed the new jobs. Manufacturing and processing lead the list with 274,209 jobs created. The services industry created 178,637 jobs and retail created a total of 136,986. These three industries alone accounted for more than 80 percent of the new jobs created.

Almost 39% of the new jobs created in Mexico during 2010 were in companies with more than 1,000 employees. Companies with between 50 and 250 employees contributed to 22 percent of the new jobs.

This figure was an update from the November announcement that stated that the Mexican economy had created 962,000 new jobs. “We always warn,” said Lozano,“that in the month of December,cyclically we have an average decline of 231,755 jobs. Whether it's a good year or a bad year we have that behavior.”

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