First-time job seekers surged 24.4%, and the informal rate rose to 26.8%, raising questions about job quality. Over 12 months, the labor force rose 1.8% and employment rose 1.8%. Participation increased to 62.1%, and the employment rate reached 57.1%, both up 0.5 points. The informal employment rate rose to 26.8%, up 0.4 points, reaching 28.7% for women and 25.4% for men. A lower jobless rate supports confidence, but informality and newcomer stress can cap consumption and complicate rate-cut decisions.