Facing the Tightest Labor Market in History, Tapping into Mexico’s High-Quality Talent Pool Is Becoming A Trend for US Companies

Discover the hidden advantages of Mexico’s labor market and how US businesses can leverage this talent pool to address their labor shortages

By Max Tokarsky, CEO at Aleph Integrated

At the height of the pandemic, more than 120,000 businesses temporarily closed, and over 30 million U.S. workers were unemployed. Since then, job openings have steadily increased, while unemployment has slowly declined. Despite adding an unprecedented 4.5 million jobs in 2022, the US labor market faces a shortage of skilled professionals. Today, nearly three million fewer Americans participate in the labor force compared to February 2020, with the labor force participation rate at 62.6%, down from 63.3% in February 2020.

Several factors contribute to this ongoing labor shortage, including increased savings, early retirements, lack of access to childcare, and new business starts. Additionally, the “Great Reshuffle” has seen millions of people quitting their jobs, contributing to the labor market’s volatility. To tackle these challenges…