Formal employment in the Mexican steel industry recorded growth of 2.9 percent, year-over-year, to 142,749 workers in October. It is the 31st consecutive annual increase, although it is the lowest annual job creation in the last 11 months, according to a SteelOrbis analysis of official data.
Considering the data only from the months of October, 2023 has the historical record, according to official social security statistics in Mexico.
By entity, Nuevo León remains the largest steel economy in Mexico, by number of jobs, with 28,734 workers (20.1 percent of the total). That entity includes companies such as the Luxembourg steel giant Ternium, the deployed metal manufacturer Ladesa; the Mexican unit of Signode Industrial Group, and the Mexican AB Tube (Maquilacero) and Zincacero of Grupo Villacero, just to mention a few companies.
With companies such as DeAcero, Industrias Maass de México, Conduit, Procarsa (Supplier Cárdenas), Pytco, Tatsa, among others in Coahuila, the state is in second place with 19,014 workers (13.3 percent of the total); followed by the State of Mexico with 13,121 workers (9.2 percent). These three states concentrate 42.6 percent of the total.
Guanajuato has the fourth position with 11,900 workers (8.3 percent), followed by Veracruz (headquarters of Tenaris Tamsa) with 11,895 workers (8.3 percent). Together these five states concentrate 59.3 percent of the 142,749 employed workers in the country. Considering the top 10 steel economies in Mexico, employment represents 81.8 percent of the total.
Of the top 10, Veracruz, San Luis Potosí (6,990 workers) and Michoacán (5,679 workers) stand out, registering a state historical maximum in October.
In October, the steel industry in Mexico contributed 2.35 percent of total manufacturing employment (6.08 million workers) or 0.65 percent of total formal employment in Mexico, which totaled 21.88 million workers.
The information corresponds to the Basic Metals Industry, which has accumulated 31 consecutive months with annual growth, according to the records of the social security institute (IMSS), reviewed by SteelOrbis.
According to official data, the Basic Metal Industries is made up of five industries: 1) Basic iron and steel industry, 2) Manufacturing of iron and steel products, 3) Basic aluminum industry, 4) Non-ferrous metal industries (copper and precious metals) and 5) Casting molding of metal parts.