Economy & Business - December 2021

MEXICO: Gov’t claims about employment recovery prove misleading

On 12 November, Mexico’s national social security institute (IMSS) reported that there were 172,668 new formal jobs created in Mexico during October. This means that the total number of jobs recorded as of the end of that month was 20,767,587, more than the 20,613,536 positions that the IMSS had recorded in February 2020, before the government of President Andrés Manuel López Obrador was forced to impose restrictions that severely affected economic activities in order to limit the spread of the coronavirus (Covid-19).  López Obrador celebrated this development as a clear sign that the labour market had recovered from the effects of the pandemic. This, however, does not mean that the sector is in rude health.

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