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LatinNews Daily - 14 September 2020

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In brief: Mexico’s IMSS announces recovery of formal jobs in August

* Mexico’s social security institute (IMSS) has reported that 92,390 formal jobs were recovered in August, pointing to a gradual economic recovery from the crisis stemming from the coronavirus (Covid-19) pandemic. According to an IMSS report, in the last 12 months, Mexico has registered a net reduction of 833,668 formal jobs, representing a 4.3% decline. The August figures show that the sectors which showed signs of growth in annual terms were social and community services (up 2.1%); electricity (1.7%); and agriculture (1.3%). The latest official figures show the unemployment rate was 5.4% in July, an improvement on the 5.5% unemployment rate registered in June but a decline on the 3.7% rate registered in July 2019.