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LatinNews Daily - 22 May 2020

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In brief: Mexico to see record unemployment, says think-tank

* The Instituto para el Desarrollo Industrial y Crecimiento Económico (Idic), a Mexican think-tank, has predicted that unemployment in Mexico will reach a record 5.5% amid the coronavirus (Covid-19) pandemic. The institute’s director, José Luis de la Cruz, has also warned that in light of the mass closure of businesses due to the pandemic, the informal sector’s ranks will grow to an unprecedented 34m workers, which constitutes an increase of 3m workers without access to social security. On 19 May, Mexico’s national statistics institute (Inegi) reported an unemployment rate of 3.4% in the first quarter of 2020, but De la Cruz has warned that there are 12.5m workers whose jobs are in “critical condition”.