Mexico | Weak recovery of formal employment with strong adjustment in wage distribution

Summary

Job creation is off to a slow start in 2021. Despite having positive job creation in January is insufficient given the loss of jobs that occurred since the start of the pandemic, which maintains a gap of 792 thousand jobs less compared to February 2020.

Key points

• Key points:
• Closing the job loss gap in 2021 would require unprecedented job creation
• The loss of permanent employment reflects the weakness of the labor market at the beginning of the year
• The loss of permanent employment reflects the weakness of the labor market at the beginning of the year
• Adjustments in the wage distribution represent a loss of jobs with higher wages

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