Hiring
Where is headcount growing in Mexico?
According to INEGI, Mexican employment has been rising at an average annual rate of 2% since 2010, positioning the country to surpass the 60 million total employment mark sometime this year.1
Out of the 135 major industries tracked by INEGI each quarter, 50 have posted compound annual growth rates (CAGRs) that exceed the national average, while 37 are recording employment figures below 2010 levels.
One might expect employment levels for companies to move “in sync” with production output and revenue. Historically, this has been the case; however, in recent years, economic output and employment have become unaligned.
For today’s Margin article we analyze which industries and companies are posting strong increases in employment levels; signaling optimism and investment by companies in the space. And, has this also translated into solid revenue growth?
When examining the individual data over the long term, several notable trends emerge:
The top two industries with the largest revenue increases over the past 10 years have also experienced the most significant rises in overall personnel figures.
Conversely, information services and 22 other industries have seen revenue growth while simultaneously decreasing their headcount.
On the other hand, cutlery & handtool manufacturing, along with 15 other industries, reported increases in headcount but a decline in sales.