Mexico loses 3907 formal jobs in July

Mexico lost 3,907 formal jobs in July, according to official figures released this Wednesday, with which the impact of the pandemic begins to subside after a reduction of more than half a million jobs in April.

« The decrease in employment so far this year is 925,490 (nine hundred twenty-five thousand four hundred and ninety) positions, of which 75.1% correspond to permanent jobs, » said the Mexican Institute of Social Security (IMSS), which provides medical service to formal employees.

According to the IMSS, 555,247 formal jobs were lost in April 2020, the largest setback on record.

In May, 344,526 jobs were lost and in June 83,311, as a result of the suspension of the bulk of economic activities due to the new coronavirus pandemic.

Some economic activities have resumed since June, although with limitations due to the fact that the contagion of covid-19 does not cease in Mexico, which as of Tuesday registered 53,929 deaths and 492,522 infections.

Mexican President Andrés Manuel López Obrador was optimistic that jobs will begin to recover in August and announced that some 30,000 would have been generated so far this month.

« In August we are no longer losing jobs, on the contrary, workers are being rehired, » the president said in his morning conference.

According to the National Institute of Statistics, which measures employment including informal employment, which represents more than half of the economically active population, 2.8 million people were without work in June, representing an unemployment rate of 5, 5%.

The pandemic has strongly impacted the Mexican economy, which in its second quarter had a fall of 17.3%, the largest since registration began in 1983.

The Bank of Mexico (central) estimates that GDP could fall by as much as 8.8% in 2020.

week / piz

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