Labor productivity in the "Basic Iron and Steel Industry" in Mexico decreased 5.2 percent, in the third quarter of this year, compared to the same period in 2021. It is the third consecutive drop, show data from the national organization of statistics (Inegi), analyzed by SteelOrbis.
In the first three quarters of 2022, labor productivity calculated with total employed personnel decreased.
This accumulated contraction was registered after five consecutive increases: Q4 2030 with 3.3 percent, Q1 2021 with 8.2 percent, Q2 2021 with 33.5 percent, Q3 2021 with 23.9 percent and Q4 2021 with a growth of 7.0 percent.
From Q4 2018 to Q2 2020, for eight consecutive quarters, labor productivity decreased an average of 9.35 percent.
In the entire manufacturing industry, labor productivity rose 6.7 percent in the third quarter of this year, compared to the same period in 2021.