The steel industry in Mexico registered a labor record with 142,269 workers in February of this year, 7.0 percent or 9,274 more workers compared to the same month in 2022. It is the second consecutive record and the seventh in the last seven months, reveal official data obtained by SteelOrbis.
The increase is in formal employment (registered with the IMSS social security institute) in the Basic Metal Industries, which according to the classifier of the national statistics agency Inegi, corresponds to the steel industry.
Employment in the industry represents 0.66 percent of total formal employment in Mexico as of January. Regarding the Gross Domestic Product (GDP) for all of 2022, the Basic Metal Industries contributed 1.0 percent of total GDP, a figure below the historical maximum of 1.6 percent registered in 1998.