Mexico’s Labor Market Beset by Uncertain PositivesBy Cinthya Alaniz Salazar | Thu, 12/02/2021 - 17:39
Mexico’s minimum wage is to increase for the fourth time since 2019 but the impact of this increase is unclear in the face of rising consumer prices. On the other hand, Mexico’s unemployment rate shrinks but the majority of jobs have gone to the informal market and employees could again find themselves displaced the new year.
In other news, the CEO of Great Place to Work Mexico discusses the lessons the pandemic imparted on company leadership, while the Manager of Tecnatom reflects on the value of senior staff, underlining their accumulated experience. Meanwhile, Ortiz with JSL International outlines how to she has managed to continue attracting talent to her company amidst a global deficit.
In international news, Big Data looks like a promising tool that can be leveraged to address the global talent shortage.
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Mexico’s minimum wage is to increase an additional 22 percent in 2022, the fourth increase since 2019. This is the result of a joint consensus between the federal government, unions and employers. Its impact, if any, will likely go unperceived by laborers who are currently contending with the highest consumer prices since 2012.
Boosted by end of the year economic activity, Mexico’s unemployment fell to 3.9 percent from last year’s 4.7 percent, when the global economy was still in the grips of a second COVID-19 wave, informed the National Institute of Statistics and Geography (INEGI) in its annual report.
Company leadership needs to take the lessons from the pandemic and apply them to the new reality, writes Alma Rosa García Puig, CEO, Great Place to Work Mexico.
The knowledge for a successful future is often found among a company’s senior staff. Why give up that knowledge base? Asks Francisco Ruiz, Knowledge Manager, Tecnatom.
JSL International’s Bettina Ortiz outlines her thoughts on how to facilitate talent in the oil and gas sector.
A prolonged labor shortage threatens to limit the economic rebound of companies and national economies, inciting numerous campaigns to attract and retain talent. In this highly competitive labor market, Big Data analysis offers companies’ talent management departments the ability to develop more successful attraction campaigns and increase retention rates by identifying expectations and necessities.