EFE.- The Mexican economy created 165,463 formal jobs in November, reaching a total of 20,933,050 jobs, the “highest figure in history,” according to the Mexican Institute of Social Security (IMSS) on Friday.
“This increase in 165,000 positions is the highest for a month of November since it has been registered. It is the first time in history with 5 consecutive months with monthly creation of more than 100,000 positions“, Boasted in a bulletin the IMSS, considered the main indicator of formal employment.
With this increase, the IMSS reports nearly 300,000 jobs more than the 20.61 million jobs it had in February 2020, before the impact of Covid-19 in the country.
The jobs created represent a monthly advance of 0.8% and an annual one of 4.4%, added the IMSS.
The figure also comes later of the more than 172,000 jobs created in October, when the prepandemic levels.
With these data, Mexico has recovered 1,159,318 formal jobs so far in 2021.
Due to the pandemic, the country lost about 1.2 million formal jobs between mid-March and July 2020. Then it recovered more than 555,000, from August to November, but lost around 280,000 again in December.
In addition to more than 3.9 million cases and more than 296,000 deaths from Covid-19, the fourth highest figure in the world in absolute numbers, the crisis caused a historic contraction of 8.2% in gross domestic product (GDP) in 2020.
Although the IMSS is the main indicator of formal work in Mexico, analysts warn which presents a partial portrait of the crisis because in the country about 56% of the workforce is informal, according to the National Institute of Statistics and Geography (Inegi).
The unemployment rate in Mexico stood at 4.2% of the economically active population (EAP) in the third quarter of 2021, above the 3.7% in the same period in 2019, before the pandemic.
The IMSS highlighted that the economic sectors with the highest annual growth in formal jobs are transport and communications with 11%, extractive with 8.1%, and construction with 6.8%.
“By state, Tabasco, Quintana Roo (in the southeast) and Baja California Sur (in the northwest) stand out with annual growths above 11.5%,” he added.
The institute also highlighted a nominal annual increase of 7.4% in the average salary, which reached 435.7 pesos per day.
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“It is the second highest increase registered for a month of November in the last 10 years and, since January 2019, the contribution base salary maintains nominal annual records equal to or greater than 6%,” he said.
The agency also reported 1.05 million employers, as it calls employers, representing an annual increase of 5.1%.
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