July 20, 20 - 3:34 pm - LABS

Mexico may take a long time to create new formal jobs… the second half of 2021

As reported by Expansión (in Spanish), the job crisis that was unleashed by the new coronavirus pandemic in Mexico, and which has already resulted in the loss of 1 million job vacancies, in addition to the not creating another 500,000, is likely to hit rock bottom by the end of 2020.

According to Armando Leñero, president of the Center for Studies on Formal Employment (CEEF, in the acronym in Spanish), getting all those jobs back will take time. He told Expansión that the creation of new opportunities will only start in the second half of 2021 and that of new job creation will only return to pre-pandemic levels throughout 2022.

A woman with a mask walks in the streets of Mexico City.
A woman with a mask walks in the streets of Mexico City. Photo: GuillermoGphoto/ Shutterstock

But job loss is just one aspect of the job crisis the country is going through, according to Expansión‘s article. The others are the reduction of wages, the loss of benefits, and the stoppage of investments in training.