Formal employment in the Mexican steel industry registered a growth of 3.1 percent, year-over-year, with 142,033 workers in August. That is the lowest growth rate in the last nine months, according to a SteelOrbis analysis of official data.
In August, total formal employment (with social security registration) and employment in the manufacturing industry in Mexico registered new historical records with 21.99 million and 6.07 million workers, respectively.
In the Basic Metals Industry, although it has accumulated 29 consecutive months with annual growth, the deceleration began in March with a growth rate of 6.1 percent. Down from 7.0 percent in February; In March, April and May the increase was slightly higher than 6.0 percent, in June 5.4 percent, 4.0 percent in July and 3.1 percent in August, according to the records of the social security institute (IMSS).
Nuevo León remains the largest steel economy in Mexico, by number of jobs, with 28,389 workers (20.0 percent of the total), followed by Coahuila with 19,318 workers (13.6 percent of the total), State of Mexico with 13,137 workers (9.2 percent). These three states concentrate 42.8 percent of the total.
Guanajuato has the fourth position with 11,648 workers (8.2 percent), Veracruz registered 11,647 workers (8.2 percent). Together these five states concentrate 59.2 percent of the 142,033 employed workers in the country. Considering the top 10 steel economies in Mexico, employment represents 81.8 percent of the total.
In August, the steel industry in Mexico contributed 2.34 percent of total manufacturing employment (6.07 million workers) or 0.65 percent of total formal employment in Mexico, which totaled 21.99 million workers.