COVID-19 leaves balance of one million 113 thousand formal jobs lost in the first half of 2020: IMSS

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The COVID-19 pandemic left a balance of one million 113 thousand 677 formal jobs lost in the first half of 2020, as a consequence of the effects derived from the health emergency and social distancing measures and the stoppage of economic activities.

The Mexican Social Security Institute (IMSS) published this Sunday its monthly employment report, in which it reports that, in June 2020, the month in which the “New Normality” began, 83 thousand 311 jobs were lost.

However, it is noteworthy that the data from June 2020 represents a slowdown in the loss of jobs compared to the previous months that were part of the National Sana Distance Day.

“As a consequence of the effects derived from the health emergency, in June there was a monthly decrease of 83,311 jobs, equivalent to a monthly rate of -0.4 percent,” the institute said.

According to IMSS data, between March and May one million 30 thousand 366 jobs were lost, so if the accumulated number of lost jobs in June is added, the balance of COVID-19 at the end of first semester of 2020 amounts to one million 113 thousand 677 formal jobs.

Meanwhile, when observing the evolution of employment for the first semester, what results is that between January and June 2020, 921,583 net jobs have been lost, this because although from March to June there was a drop in employment, During the months of January and February, there were jobs created.

While the annual rate of decrease of employment was -4.3 percent in June 2020, the lowest variation for any month since IMSS records exist, that is, 1997.

It is worth mentioning that, in June 2009, when the global recession and the AH1N1 influenza virus occurred, employment reported a decrease of -4.2 percent at the annual rate, that is, a variation similar to that observed in June this year.

The sectors that show annual growth in jobs in June were agriculture with 3.5 percent, social and community services with 2.3 percent and electricity with 0.1 percent, in contrast, the construction industry registered a drop of 11.6 percent, Business services fell 8.1 percent and the extractive industry decreased 6.5 percent.

By federal entity, Tabasco, Michoacan and Baja California registered a slight positive annual variation during June with 1.4, 0.1 and 0.1 percent, respectively, on the other hand, tourist states such as Quintana Roo recorded a collapse of formal employment of 22.9 percent in June to annual rate, followed by Baja California Sur with 11.7 percent and Guerrero with 7.2 percent.

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https://www.elfinanciero.com.mx/economia/covid-19-deja-saldo-de-un-millon-113-mil-empleos-formales-perdidos-al-primer-semestre-de-2020-imss

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