Where do most Mexicans find employment?
🏭📈 Did you know over a fifth of Mexicans work in commerce and manufacturing? Discover how these sectors are powering Mexico’s economy 👇
With all of the foreign capital entering Mexico’s economy, it’s little surprise that Mexican unemployment is at an all-time low of under 3%, while real wages are climbing. Commerce and manufacturing alone account for over a fifth of all Mexican jobs, while the service industry provides nearly an additional 15%.
But whether it be due to agricultural, energy, or manufactured exports, it’s undeniable today that the US–Mexico commercial relationship is critical for both countries, despite any political arguments to the contrary.
Last year, two-way trade reached just shy of $800B. For reference, that figure is roughly half the size of Mexico’s total GDP. Decades of policy cooperation, economic push-and-pull, and deepening integration have led to complementary industries in each country, where today the average car part will cross a North American border eight times throughout the manufacturing process.
This level of integration rivals that of even other developed regions such as the European Union. It builds upon each North American country’s comparative advantages and key resources. And from Tijuana to Brownsville, from Mexico City to Washington D.C., the US—Mexico relationship grows the prosperity and success of both countries.