Record Employment and Wages

Mexico's Instituto Mexicano del Seguro Social (IMSS) closed May 2026 with 22 million 718 thousand 681 registered formal jobs, the highest count for any May on record, according to El Heraldo de México. The average daily wage base reached 671.3 pesos, marking an all-time high.

Annual Growth Accelerates

Year-over-year, the country added 346 thousand 637 new formal positions over the last 12 months, representing 1.5 percent growth, the strongest rate in 20 months, according to El Financiero. From January through May, 201 thousand 605 workers were incorporated into the formal economy, with 81.9 percent in permanent positions.

May Contraction Attributed to Seasonal Factors

On a monthly basis, May saw a contraction of 29 thousand 922 positions, a decline of 0.1 percent. The IMSS attributed the drop to two causes: seasonal agricultural sector slowdowns and the cancellation of one employer registry due to irregular registrations. Both IMSS statements and analysts at ManpowerGroup, cited by El Financiero, noted that permanent jobs fell by 32 thousand 471, while temporary positions gained 2 thousand 549.

Outlook for 2026

Banamex forecasts the creation of 360 thousand formal private sector jobs throughout 2026, equivalent to 1.6 percent annual growth. The next monthly IMSS report arrives in early July and will indicate whether employment growth momentum recovers.

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