Mexico’s Formal Employment Hits Record 23.09 Million Jobs in October
Mexico formal employment record 23 million jobs October 2026: Mexico formal employment: Formal employment in Mexico reached a historic high of 23,088,353 registered positions with the Mexican Social Security Institute (IMSS) in October 2026, according to President Claudia Sheinbaum, who announced the figure at her morning press conference. The monthly increase was 161,077 positions, or 0.7 percent, and the year-to-date gain reached 571,277 jobs.
Mexico formal employment record 23 million jobs October 2026, Digi Mart USA News (Mexico): Formal employment in Mexico reached a historic maximum of 23,088,353 registered positions with the Mexican Social Security Institute (IMSS) during October 2026. President Claudia Sheinbaum announced the figure on Monday, November 9, during her morning press conference.
According to the president, the number of positions registered with Social Security rose by 161,077 compared with September, representing monthly growth of 0.7 percent. It was the first time the number of jobs enrolled in Social Security exceeded 23 million.
During her remarks, Sheinbaum said: “I can tell you in advance that we reached a maximum figure of formal jobs in the month that just passed, October, 23 million 88 thousand 353, the highest figure in the entire history.” She added that between September and October formal employment grew by 161,000 jobs.
From January through October, the IMSS recorded a cumulative increase of 571,277 jobs, equivalent to growth of 2.5 percent compared with the close of 2025. On an annual basis, formal employment rose 1.3 percent compared with October 2025, representing 299,180 additional positions.
The result surpasses the 22,927,276 positions registered at the close of September, when the IMSS reported the addition of 128,803 jobs during that month.
Sheinbaum also highlighted the recent decision by the Bank of Mexico (Banxico) to reduce its interest rate. On Thursday, November 5, Banxico cut its benchmark rate by 25 basis points to 6.25 percent.
The Governing Board approved the reduction by a vote of three to two, after holding the rate at 6.50 percent since September.
Sheinbaum linked the rise in formal employment and the interest rate adjustment to the country’s economic performance, saying: “We are doing well and we are going to do better.”
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