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Mexico & Nafta - September 2012 (ISSN 1741-444X)

Calderón’s legacy on employment fails to stack up

President Felipe Calderón leaves office on 1 December unable to claim sucesss in his declared ‘war’ against the country’s vicious drug gangs. In the run-up to the 1 July general election he sought instead to tout his economic policy achievements in a (failed) effort to drum up support for the ruling Partido Nacional Acción (PAN), which was trounced at the polls. As it heads into its final quarter, the Calderón administration is brandishing with much more conviction Mexico’s steady growth and its low unemployment (just 5.0% in June). The GDP growth is broad-based, with robust domestic demand compensating for the still stuttering external scenario. The positive headline labour market figures, however, mask fundamental structural problems.

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