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Mexican workforce ranked ninth in the world in 2022

ManpowerGroup’s Total Workforce Index (TWI) ranks Mexico 9th out of more than 60 countries.
The score assigned to each country’s workforce depends on more than 200 factors grouped into four categories: availability, cost efficiency, regulation, and productivity.

A prestigious growth

Mexico‘s performance in these categories has earned the country over 44 places. The countryโ€™s workforce rose from 53rd in 2021 to 9th in 2022, thanks to a market willing to adopt current trends, such as remote workforce readiness and technology infrastructure building. Mexico has also demonstrated market and geopolitical stability, a supportive regulatory environment, and relatively high gender participation.

In particular, Mexico achieved one of the most convincing scores in the cost efficiency category (0.77 out of 1). Equally positive are the areas of regulation (0.72) and productivity (0.70).
A lower score, close to half of the previous ones (0.31), was calculated for the workforce availability, a factor that has, in any case, been growing in recent years.

Several favorable factors

According to the data compiled by the TWI, Mexico stands out for its ability to support permanent recruitment for companies targeting low-cost markets and offshore and nearshore opportunities. Indeed, the country offers a large, young, and, at the same time, qualified workforce.

Statements by Economy Minister Raquel Buenrostro confirm this positive trend. “More than 400 North American companies have the intention to carry out a relocation process from Asia to Mexico.”
Will the country be able to close the remaining gap with its North American trading partners in the coming years?

Source: mexiconewsdaily.com

Read also: Brazil and Argentina work for a common currency

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