Employment in the construction industry grew 1.9% in 2022

The building has been one of the main motors in the national economy, since according to data from the National Occupation and Employment Survey (ENOE), of the 57.9 million people employed in Mexico, 7.9% are concentrated in this activity.

According to data from the National Institute of Statistics and Geography (Inegi), last year, 87,848 new jobs were created in the Construction Industry, which represents a growth of 1.9 percent. In total, at the end of 2022 the industry reported more than 4.5 million workers.

However, Ricardo Trejo, general director of the market research and economic analysis firm Forecastim, commented that the sector remained stagnant during 2022 and failed to generate the jobs it should, above all, as it is an intensive activity in labour.

It is worth mentioning that the Covid-19 pandemic was a strong blow to companies and workers in the sector; the Mexican Chamber of Construction Industry (CMIC) calculates that, between 2019 and 2020, around 140,000 jobs were lost.

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By 2023, Trejo pointed out that a 1% growth is expected in the branch, driven by the construction of industrial buildings, self-construction of housing e infrastructure.

“Contrary to last year, we believe that there will be an increase of 1% in 2023, which will also cause employment to present a slight increase in job creation for the construction sector”, he commented in an interview.

Infrastructure will promote employment

Throughout 2022, the Construction Industry it was affected by the inflation in the prices of materials and the increase in the cost of financing, derived from increases in interest rates.

In this sense, one of the most affected real estate segments was housing, which is forecast to continue under pressure in 2023.

For this reason, Trejo indicated that there will be more opportunity to create jobs in non-residential construction, that is, industrial and commercial projects.

He also highlighted that, since last year the infrastructure segment began to show signs of recovery, after going down for more than 10 years.

“For the current year, activity in this kind of works is expected to grow 5%, so an increase in the volume of personnel for this purpose could be seen,” concluded the director of Forecastim.