Forecast: Number of Persons Employed in Iron and Steel in Mexico

The employment in the iron and steel industry in Mexico has seen minor fluctuations over the past decade, reflecting the highly competitive and demand-driven nature of the sector. Between 2013 and 2023, the number of jobs generally hovered around the 40,000 mark, with the most recent actual data from 2023 showing 40.6k jobs, an increase from the previous year but marginally so. The average annual growth rate (CAGR) for the last five years up to 2023 stood at approximately 0.36%, indicating a relatively stable employment landscape.

Looking ahead, the forecast suggests a steady but modest increase in employment numbers, with expectations of reaching around 41.11k jobs by 2028. The forecasted CAGR for the following five years (2024-2028) is projected at 0.2%, demonstrating a modest upward trend.

Future trends to monitor include:

• Impact of technological advancements and automation on job growth.
• Global market demand and international trade policies affecting the sector.
• Government infrastructure investments and policy changes in Mexico.