LatinNews Daily - 15 April 2020

*Mexico’s social security institute (IMSS) has reported that 130,593 formal jobs were lost in March. This is the highest number of formal jobs lost in the month of March since 2002 and points to record high job losses in the country due to the economic impact of the coronavirus (Covid-19) pandemic. According to an IMSS report, with the March data only 61,501 formal jobs were created in the first quarter of the year, the lowest figure since the first quarter of 2009. The IMSS had previously reported that firms had laid off 346,878 workers between mid-March and early April due to the social isolation measures imposed by the government to try to contain the spread of Covid-19 and so it is expected that the April job creation data will also be negative. Labour Minister Luisa María Alcalde has said that a further 148,845 formal jobs have been lost so far in April and it is forecast that this figure will continue to increase in coming days.

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