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Economy & Business - June 2020

MEXICO: Unemployment data continues to deteriorate

Mexico’s social security institute (IMSS) reported on 12 May that 555,247 formal jobs were lost in April due to the impact that the coronavirus (Covid-19) pandemic is having on Mexico’s economy. This is the largest loss of formal jobs since 1997. Most of them (365,814) were permanent positions, while the rest were temporary jobs, and they followed the 130,593 jobs lost in March, when the federal government started adopting social isolation measures to limit the spread of Covid-19.

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