Mexico Loses 19,550 Formal Jobs in Record July Drop as World Cup Boost Fades

3 articles · Updated · Mexico News Daily · Aug 11

IMSS reported 19,550 fewer formal-sector jobs in July, a 0.1% monthly drop and the biggest July decline since comparable records began in 1998.
June had added 61,023 jobs while Mexico hosted 12 World Cup matches, and Bloomberg Línea linked July’s reversal to the tournament’s end and weaker rideshare demand after the final July 5 match.
Manpower estimated Mexico would have lost 29,823 jobs in July without 10,273 digital-platform workers entering the formal workforce, while employers showed growing caution on hiring.
Employer registrations fell to 1.01 million, down 0.2% from June and 2.5% from a year earlier, even as second-quarter GDP rose 1.5% on World Cup spending after a 0.6% first-quarter contraction.
Despite the July setback, Mexico still had 22.76 million formal jobs at month-end, up 243,078 this year and 326,987 from a year earlier, though 55% of workers remained in the informal sector in June.