Home Feature 92 thousand formal jobs recovered in Mexico

92 thousand formal jobs recovered in Mexico

by Yucatan Times
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For the first time since March, when layoffs began in the country due to the pandemic’s economic scourge, in August, the IMSS did not report any decrease in the number of jobs.

MEXICO (IMSS) – For the first time since the health contingency began in Mexico, no formal job losses were recorded in August.

The IMSS reported that last month 92,390 jobs were recovered after 1,117,584 were lost between March and July due to the pandemic’s economic impact.

According to figures from the institute itself, in March, 130,593 formal jobs were lost; in April, 555,247; in May, 344,526; in June, 83,311 and 3,907 in July.

He pointed out that the net decrease in jobs this year is 833,100 positions, considering those created in the months before the pandemic. Of that total, 77.6% corresponds to permanent employment.

The Mexican economy recovered 92,390 formal jobs in August after having lost 1,185,000 24 jobs between March and July of this year due to the covid-19 pandemic, the Mexican Social Security Institute (IMSS) announced.

According to the institute’s figures, in March, 130,593 formal jobs were lost; in April, they dropped to 555,247; in May, the loss of jobs was 344,526; in June, they were 83,311; and in July they lost 3,907.

In this way, the balance of jobs lost due to the pandemic is 1,117,584 registered with Social Security, representing one of the leading indicators of formal work in the country.

However, the agency noted that the net decrease is 833,100 positions when considering those created in the months before the pandemic.

The Mexican Social Security Institute reported 19 million 588 thousand 342 workers affiliated to the institute, which represents a reduction of 4.08 percent compared to the 20 million 421 thousand 442 registered at the end of 2019.

Likewise, in August, Social Security reported that 1,27 new employers were registered to have a global list of 1,2,342 employers.

However, during the week, Moody’s agency reported a 20 percent drop in the Economically Active Population (EAP) in the pandemic, which implies the departure of 12 million Mexicans from the labor market, almost all of them from the informal sector who are not affiliated with Social Security.

The covid-19 pandemic has killed more than 70,000 people and caused almost 660,000 cases, paralyzed non-essential activities in April and May when the federal government decided to declare a national health emergency.

Before this Social Security report, President Andres Manuel Lopez Obrador stated that Mexico would come out of the economic crisis “successfully,” reflected in an annual contraction of 18.7 percent of the Gross Domestic Product (GDP) in the second quarter of the year.

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