The pandemic forces hundreds of people to live on the streets in Mexico
In addition to the job loss registered between the first and third quarters of the year, the proportion of employed persons who work fewer hours than they need and can dedicate to work increased considerably: in 3Q2020 the rate was 17%, almost the double that recorded in 1Q2020 and 3Q2019, when the underemployment rate was 8.5% and 7.8%, respectively.
Not only are there fewer jobs, but even those with jobs are in need of more work to receive their necessary income.
The quarterly figures from the ENOE from July to September 2020 reflect the havoc that the pandemic has left on the country’s labor market. These figures show how, in addition to job loss, many individuals have given up (even temporarily) in the search for a new source of income, either in the formal or informal sectors, due to the difficult conditions generated by the crisis , the sanitary measures implemented and the economic uncertainty the country is going through.
The changes in the composition of the Mexican labor market at the end of September 2020 show the need to create new job opportunities for Mexican workers who have totally or partially lost their source of income and who cannot meet their daily obligations , which has a direct impact on their well-being and that of their families.
The creation of new opportunities requires the promotion of new investments and the care of existing investments; therefore, in the remainder of the year and throughout 2021 the government and the private sector work together to provide the injection of capital into the country.
Editor’s note: Mexico, how are we doing? records in detail the economic growth of the country. Follow them on Twitter, Facebook and Instagram. The opinions expressed in this column correspond exclusively to the author.
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