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    Published on Monday, August 30, 2021

    Mexico | Labor market with considerable progress on the path to recovery

    Summary

    Participation in the labor market practically recovered; the return to classes on-site will improve the recovery of labor participation. Formal job creation surprises in July; additional, the removal of outsourcing allows the recovery and exceeds permanent employment levels prior to the pandemic.

    Key points

    • Key points:
    • Total and urban labor informality rate exceeds pre-pandemic levels
    • In July, underemployment slows the declining trend and remains at high levels compared to the historical data
    • Unemployment rebounds at the urban level in its monthly comparison, but with a considerable decrease compared to the previous year
    • Transitions of workers due to separation and hiring equivalent to 11.3% of total formal employment
    • The adjustments derived from the removal of subcontracting without negative impact on wage levels in aggregate terms

    Geographies

    Authors

    David Cervantes Arenillas BBVA Research - Senior Economist

    Documents and files

    Report (PDF)

    MX_Monitor_Empleo_D07_08_2021P.pdf

    Spanish - August 30, 2021

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