Home Business Informal economy equals 58 percent of Mexico’s workforce

Informal economy equals 58 percent of Mexico’s workforce

by sanmigueltimes
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A new study finds that about 58 percent of jobs in Mexico are in the informal sector, including categories such as unregistered vendors, artisans and domestic workers.

But the study released by the National Statistics Institute on Tuesday Dec. 13 says that the informal sector generated only about 23.6 percent of the nation’s GDP in 2015. That represents a decline from about 27.2 percent in 2003.

Mercado Lucas de Galvez

Mercado Lucas de Galvez, Mèrida, Yuc. (Photo: Sipse)

The most common activities are construction work, small-scale manufacturing and selling products at informal markets or street stalls.

Formally registered jobs account for only about 42 percent of employment in Mexico. But they generate over three-quarters of all economic production.

Written by: Associated Press

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