Job creation latest publications
The advance of the GDP in Q3 (16.7% t/t; -8.7% y/y) exceeded expectations thanks, above all, to positive surprises in investment. Although domestic demand explained most of the growth (-16.1pp t/t; -4.2pp a/a), external demand also added up. The improvement in the hours worked was intense and productivity fell.
The health crisis and the limitation of movement are the main factors in the contraction of activity. Regions exposed to "social consumption" sectors are more affected. The importance of "essential activities" may be sustaining production in some central communities.
March 23, 2020
Mexico | 11.8 million employees excluded from health and income below the poverty line
In a context of economic recession and health crisis, the impact on the labor market is widespread, however, it has a greater impact on the most vulnerable workers with low-income levels and excluded from social security.
The pace of job creation slowed further in January with an annual rate of 1.6%. Only 69K formal jobs were created in the private sector in January. The real wage continues with a good performance and grows 3.1% YoY.
January 27, 2020
Mexico | Formal employment slowed-down during 2019, a moderate recovery is expected
In December 2019, the IMSS registered a total of 20.4 million workers. A total of 342 thousand new formal jobs were created in 2019, an average growth of 2.3% in the year. The formal payroll maintained average growth above 5% during the year.
As predicted, the deceleration of formal employment has been persistent practically throughout the year, in November it grew 1.7% YoY, the lower level since the crisis of 2009. From January to November 724 thousand jobs have been created.
GDP growth in Portugal is expected to be slightly higher than estimated a few months ago. Specifically, GDP could reach 1.9% in 2019 and 1.7% in 2020. This upward revision is explained by the historical review of the activity data carried out by the INE and because of the positive trend shown by some components of demand.
Formal employment had an annual growth of 1.9%, reaching a total of 20.5 million formal employees.