Forecast: Number of Persons Employed in Electrical Equipment in Mexico

The number of persons employed in electrical equipment in Mexico has consistently grown from 2013 to 2023, with a few exceptions. In 2023, the employment stood at 284.85 thousand jobs. The year-on-year growth rates fluctuated, reaching peaks of 7.42% in 2017 and declining in some years like 2015 (-2.52%) and 2019 (-0.47%). From 2018 to 2023, there has been a steady, albeit slower, growth culminating in a 0.85% increase in 2023. The average annual growth rate (CAGR) over the past five years stood at 0.62%.

Key trends to watch for in the future include:

  • Continued moderate growth in employment, with a forecasted CAGR of 0.62% from 2024 to 2028.
  • Technological advancements potentially leading to shifts in labor demand within the electrical equipment industry.
  • Impact of governmental policies and international trade agreements on manufacturing and employment rates.

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