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Weekly Roundups

Restaurant Sector Demands More Support

By MBN Staff | Thu, 02/04/2021 - 12:52

Further job losses and restaurant closures are expected in the restaurant sector in Mexico if the government does not provide more support, said the industry this week as it prepared to protest for a second time. “The industry initiated negotiations with the Mexico City authorities but the government has not listened to our demands,” the National Chamber of the Restaurants and Seasoned Food Industry (CANIRAC) said in a statement. “We are drowning; it is increasingly difficult to operate and keep jobs. New restaurants are being added every day to the 13,500 restaurants that have closed and the more than 80,000 jobs that have been lost,” the industry added.

According to CANIRAC, 40 percent of the city's restaurants are currently inactive because they do not have a terrace or an open place to set tables. Those that are open are earning only 30 to 35 percent of what they did before the pandemic. Restaurants are demanding to extend service hours from 6 pm to 10 pm and to allow diners to sit inside.

More news below:

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  • Between April and October 2020, jobs in the tech industry increased by 57 percent, while those in the real estate sector increased by 54 percent, a study by LinkedIn revealed. In the technology sector, back-end and front-end programmer jobs were among the most in-demand, with 116 to 210 vacancies opened last year. Data analytics jobs also saw an increase of 68 percent.

  • An analysis by Banco Base revealed that the jobs that are most easily reinstated are in the informal economy. “Most of the jobs recovered are informal and low-wage, which impacts the social environment and economic recovery,” said Gabriela Siller, the institution's Director of Analysis during a seminar on Mexico’s economic outlook. This creates a risk, Siler noted, that GDP recovery to pre-crisis levels could take 20 years, while the post-2021 growth rate could be as low as 1.5 percent.

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