Economics: More Jobs but Pay Remains Weak

MEXICO - Report 27 May 2015 by Mauricio Gonzalez and Ernesto Cervera
Executive Summary The rate of growth in payroll employment has been twice that of the general economy since the second half of 2012. That outperformance reflected a significant migration of workers in the informal sector into formal sector jobs, but the first quarter of 2015 saw growth in both formal and informal employment. The number of payroll workers increased 4.5% year on year in the first quarter of 2015 while GDP rose by only 2.5%. Between June of 2012 and March of 2015, payroll employment has risen on average 1.8 percentage points more than GDP.One troubling development is the exten...

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