Mexico incorporated 1.5 million more citizens into the economically active population (PEA) in July as a result of the gradual reopening of businesses closed due to the covid-19 pandemic, the National Institute of Statistics and Geography (Inegi) reported on Thursday, Sept. 3.
The Inegi National Survey on Occupation and Employment (ENOE) showed that the PEA reached 52.6 million in July, up from 51.1 million in June.
“Of the 12 million people who left the PEA in April 2020, around 7.2 million returned by the seventh month of this year,” Inegi said in the report.
“In general terms, the results of the ENOE survey in July 2020 confirm the recovery in occupation and employment that began in June, mainly driven by the gradual reopening of businesses and companies in nonessential economic activities,” the report said.
Mexico began on June 1 to gradually reactivate some sectors of the economy that had been closed since March due to the novel coronavirus pandemic.
In a separate report, the Monex Financial Group described the progress in the Mexican labor market as “good news.”
“The panorama in July continued to improve, although at a modest rate, and it seems to be part of the rebound effect that appeared in the labor market after the end of the lockdown in the country,” that report said.
Mexican President Andrés Manuel López Obrador (AMLO) estimated that the country will lose around 1 million jobs in 2020 due to the covid-19 pandemic, but claimed that his administration is seeking ways to generate up to 2 million new jobs.
The International Monetary Fund (IMF) has predicted a 10.5 percent drop for Mexico’s economy in 2020 due to the pandemic.
…Sept. 4, 2020