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When Will Mexico Recover the Jobs Lost During COVID-19?

By MBN Staff | Thu, 07/30/2020 - 15:56

So far, the employment crisis unleashed by the COVID-19 pandemic in Mexico has added more than a million lost jobs. However, getting all those jobs back will take time. Armando Leñero, President of the Center for Studies on Formal Employment (CEEF), predicts that job creation could start to pick up in the second half of 2021 and recover until 2022. "There are many people who want to work and little job offer. This is exacerbated every day because we continue to have losses," said Leñero in an interview for Expansión.

“The first people who were fired during this pandemic were young people. Of the formal jobs registered with IMSS that were lost in March, 70 percent were of young people up to 29 years of age. The loss of jobs is very serious for everyone but even more for young people who already had a higher level of unemployment before this health crisis,” said Andrea Méndez, Director of Fundación Forge México during a virtual press conference.

But job loss is just one of the consequences that this health crisis brought. According to CEEF estimates, wages in Mexico have decreased 20 percent during the first half of the year due to negotiations between companies and their collaborators to maintain cash flows and avoid layoffs.

More news below:

  • In addition to changing the way of life for millions of people around the world, the pandemic has accelerated the digitization processes of companies in all sectors. E-commerce platforms and online stores have become indispensable to maintain the same lifestyle we had before the pandemic. In this context of radical change in perspectives, the recruitment of technological talent has become one of the top priorities of all human resources departments worldwide.

  • As unemployment rate increase, many people are starting to apply for new positions almost everywhere. “As you begin your job hunt, ask yourself these questions: When was the last time you updated your CV? Is your resume free of grammar and spelling errors? Are you using the right format? If you answered no to even one of the above questions, this article will be of great interest to you,” writes Gustavo Linares, Founder of TalentHow, for Mexico Business News.

  • Up to 72 percent of the world's workforce changed its daily work dynamics in the last four months as a result of the COVID-19 outbreak. Employees feel more connected and productive than before working from home. However, data from a global report by Lenovo shows the financial, physical and emotional disadvantages employees face.

Photo by:   Matt Noble, Unsplash
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