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Weekly Roundups

The Week in Talent: Growth in Employment Reaches Lowest Point in Decade

By Cas Biekmann | Fri, 01/17/2020 - 15:39

This week, the Mexican Social Security Institute (IMSS) reported a slump in Mexico’s employment, as well as issues of companies laying off all their employees last December. The US-Canada-Mexico agreement swiftly passes its last hurdles, and there is plenty to improve in the labor market for women in Mexico.

 

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Formal Employment at Lowest Growth in a Decade

As of August 2019, the number of formal workers registered with the Mexican Social Security Institute (IMSS) grew 1.8 percent annually. This meant an increase of 2,422,010 employees, the lowest increase since February 2010. The most recent peak was reached in July 2018, when growth was 4.1 percent. After that date, progress has consistently slowed every month.

 

In Mexico Women Will Earn the Same Amount of What Men Earn… But in 257 Years

Even though Mexico managed to rise 25 spots in the world ranking of gender gaps at work, there has been a decline in employment and economic participation for women. The problem amounts to the following, says a World Economic Forum report: without further change it will take 257 years for women to reach full equality in wages.

 

US Senate Ratifies US-Canada-Mexico Agreement, Only President’s Signature Missing

Good news for the agreement, as this Thursday the US senate ratified it with a majority. This is seen as a victory for President Donald Trump, who was looking to make the commercial agreement a reality as it offers plenty of potential benefit for the US markets and consumers alike.

 

IMSS: 14,553 Companies Laid Off All Their Workers in December

A large number of companies ranging from 101 to 500 employees canceled their entire payrolls in December. This had an impact on overall employment figures, in  addition to factors which are typical at the end of the year. These numbers contributed to a negative trend in employment. IMSS director Zoé Robledo criticizes the situation, lamenting that these companies had no small impact on people’s lives. Nonetheless, IMSS will continue their plans to create better oversight and avoid similar situations.

Cas Biekmann Cas Biekmann Journalist and Industry Analyst