LatinNews Daily - 13 October 2020

* Mexico’s social security institute (IMSS) has reported that 113,850 formal jobs were recovered in September, representing a 0.6% increase on the previous month. This reflects the ongoing economic recovery from the crisis stemming from the coronavirus (Covid-19) pandemic. According to the IMSS report, as of 30 September 19.7m formal jobs were registered with the IMSS. In the previous 12 months, Mexico had registered a net reduction of 865,234 formal jobs, representing a 4.2% decline. The September figures show that the sectors which showed signs of growth in annual terms were electricity (up 1.2%); social and community services (0.5%); and agriculture (0.4%). The latest official figures show that the national unemployment rate was 5.2% in August, an improvement on the 5.4% registered in July, but much higher than the 3.7% rate registered in August 2019.

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