Friday, September 22, 2023

The economy’s labor productivity increased in the second quarter: Inegi Grupo Milenio

He Global Labor Productivity Index of the Mexican Economy (IGPLE)rose 3.4 percent year-on-year in the second quarter of 2023, according to data released by the National Institute of Statistics and Geography (Inegi).

By economic sector, primary work activity grew by 4.9 percent compared to the previous year, the secondary sector by 4.4 percent and the tertiary sector by 2.2 percent.

While manufacturing companies recorded a quarterly rate increase of 1.1 percent.

regarding Productivity based on total employed personnel in construction companies, There was an increase of 9.7 percent, private non-financial services increased by 0.4 percent and retail trade increased by 0.2 percent, while wholesale trade recorded a decrease of 0.8 percent.

In the April-June quarter of 2023 compared to the previous quarter Unit labor costs It fell by 8.4 percent for construction companies and by 0.1 percent for non-financial private service companies.

In the wholesale companies it rose by 0.6 percent Manufacturing companies 1.1 percent and for retail companies 1.5 percent.

According to the numbers from IGPLE in the second quarter of 2023 per hour worked in relation to gross domestic product (GDP) at constant prices and the labor factor of all production units in the country was recorded at a level of 95.5 points and an increase of 3.4 percent quarter-on-quarter with seasonally adjusted figures.

As for that Labor productivity index By federal unit, the following individuals experienced the largest declines in the second quarter of 2023: Guerrero which recorded a decline of 44.9 percent, followed by Chiapas with 38.2 percent and Nayarit with 20.0 percent.

It turned out that these were the states that recorded a greater increase in the labor productivity index in the second quarter of this year Oaxaca rose 28.8 percent, followed by Sonora at 15.1 percent and Zacatecas with 13.1 percent.

In terms of the unit labor cost index by federal unit, a stronger increase was recorded in the second quarter of 2023 Chiapas with 68.3 percent, followed by Guerrero with 64.4 and Nayarit with 13.1 percent.

In this category, the following people experienced the largest decline in the second quarter of the year: Oaxaca with 19.9 percent, Sonará with 7.3 percent and Zacatecas with 6.3 percent.

Nation World News Desk
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