The Mexican economy recovered in the last four months 50 percent of the formal jobs that were lost after the crisis caused by COVID-19, which means a faster recovery compared to past crises.
The boost in the labor market was due to the accelerated reactivation in the US economy that benefited the local manufacturing industry.
According to IMSS data, of the 1,117 thousand 584 jobs that were lost from March to July, 555 thousand 600 jobs were recovered between August and November.
In the financial crisis of 2008-2009, 15 months had to pass to recover all the jobs that were destroyed, on that occasion the drop in employment was 696 thousand and the recovery in four months was barely 18 percent.
In the crisis of 1994 and 1995, one million 78 thousand 124 jobs were lost. Full recovery took 19 months.
“Much of the creation of formal jobs in Mexico has to do with the economic recovery in the US, this reactivation has been much faster than any in history and the jobs that are associated with exporting companies or manufacturing companies are recovering at the same rate. they are increasing demand, “said Amín Vera, deputy director of analysis at Black Wallstreet Capital.
However, he warned that the recovery in the formal sector will not be enough to cover the hole caused by the pandemic; “It is not a sign of a general recovery in employment, since 60 percent of employment in Mexico is generated in the informal sector.
more recommended stories
Riviera Maya hotels prepare for the Atlantic Hurricane Season 2022
The Hotel Association of the Riviera.
Vila recognizes the effort and dedication of the teachers in Yucatan
“We Yucatecans are clear that what.
“Mérida Augmented Reality” live the experience tonight in La Noche Blanca
Mérida Interactive, Augmented Reality is the.
Man is sentenced to 20 years for raping his own daughter in Mérida, Yucatán
After being found criminally responsible for.
Earth will become one big Supercontinent again
Geoscientists say Earth will be home to one.
Atlantic Hurricane Season 2022 to start June 1st
Federal meteorologists are forecasting a record-shattering.
Switzerland has a high rate of gun ownership, but no mass shootings
Switzerland hasn’t had a mass shooting.
Two women arrested in Arizona in possession of 500 thousand fentanyl pills
Two women were arrested after about.
Seven migrants dead and 25 injured in a bus accident
Authorities in northern Mexico said Wednesday.
Solar Panel business in the US is suddenly in crisis
An ongoing Department of Commerce investigation.