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LatinNews Daily - 13 January 2021

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In brief: Mexico’s formal sector accumulates job losses in 2020

* Mexico’s social security institute (IMSS) has released new figures which show that the number of formal jobs in Mexico fell 3.2% in 2020, compared with 2019. Over 1m formal sector jobs were lost between March and July 2020 as a result of the coronavirus (Covid-19) pandemic and measures taken to contain it, but the IMSS had recorded positive job creation between August and November. This trend was reversed in December, when 277,820 formal jobs were lost, a 1.4% decrease compared with November – although the IMSS has stressed that this is below the average 1.8% loss in formal jobs recorded for the month of December since records began. Overall, as of 31 December 2020 there are 19.77m formal jobs recorded by the IMSS in Mexico, a decrease of 647,710 compared with 2019.