Politics 13-08-2020

Mexico loses 925,490 jobs due to the impact of Covid-19

The governmental Mexican Institute of Social Security released this Wednesday the data on the employment of members of that organization, which revealed that the decrease in employment so far this year (January-July) is 925,490 positions, of which the 75.1 percent corresponds to permanent jobs.

The news comes after five months of the Covid-19 pandemic in Mexico that has had a negative impact on employment, especially on permanent jobs, which, in the month of July alone, registered a monthly decrease of 3,907 positions.

The July figures suggest that the effects of the Covid-19 pandemic could be subsiding after a reduction of more than half a million jobs registered in April, when the expansion of the epidemic began.

However, the agricultural, social and communal services, and electricity sectors register growth in employment rates, which is interpreted by the entity as a good sign. This is in accordance with the criteria of the Mexican president, Andrés Manuel López Obrador, who was optimistic that jobs will begin to recover in August.

According to the National Institute of Statistics, which measures the employment that represents more than half of the economically active population, some 2,800,000 people were without work in June, which represents an unemployment rate of 5.5 percent and expresses the impact of the pandemic on the working class.

The Covid-19 pandemic has strongly impacted the Mexican economy, which in its second quarter had a fall of 17.3 percent, the highest figure since registration began in 1983 and for this year the GDP could fall up to 8.8 percent.

Source: Telesur

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