Latin America Advisor 2022-12-14 – Inter-American Dialogue

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

December 14, 2022

What Forces Are Driving Mexico’s Labor Market?

Mexico’s unemployment rate declined in October to 3.3 percent. Factory workers in Mexico’s Jalisco state are pictured. // File Photo: Mexican Government.

Q

Mexico’s unemployment rate fell to 3.3 percent in October, down from 3.95 percent in the same month last year, state statistics institute INEGI reported Nov. 29. The country’s number of unemployed people in the economically active population declined by 324,000 year-on-year in October to just under two million, however, and 5.3 million adults of working age remained outside the active labor force. What factors have led Mexico’s unemployment rate to decline, and will the trend continue? Which sectors of Mexico’s economy are seeing the highest and lowest levels of unemployment? How well are the Mexican government’s policies aiding people in finding formal employment?

A

Tequila Brooks, attorney and former labor law advisor to the North American Commission on Labor Cooperation Secretariat: “Because of the complexity and high level of informality of the Mexican labor market, the unemployment rate figure does not always capture the actual levels of employment and unemployment in the economy. This is also true in the United States and other economies. The drop in the unemployment rate from 3.95 percent to 3.3 percent from October 2021 to October 2022 is significant because it reflects positive trends in the Mexican economy and job market—including recovery from the pandemic. It is estimated that Mexico lost 1.19 million formal jobs during the early months of the pandemic. As reported by Mexico Now, the Mexican Social Security Institute (IMSS) indicates that those jobs were recovered by October 2021, with an additional…”

Top News

Bolsonaro Backers Attack Police Headquarters

Supporters of outgoing Brazilian President Jair Bolsonaro attacked the country’s federal police headquarters late Monday. Law enforcement pushed them back before any could breach the building.

Petroecuador Recovers 90% of Production After Outage

Ecuadorean state oil company Petroecuador said it recovered 90 percent of its output after a power outage affected hundreds of its wells.

Peruvian Judge Orders Castillo to Remain in Custody

A Peruvian Supreme Court judge on Tuesday ordered former President Pedro Castillo to remain in custody following his removal from office and arrest last week. // File Photo: Peruvian Government.

Complete editions of the Latin America Advisor are delivered on a biweekly basis to members of the Dialogue’s Corporate Program and other subscribers. Sign up below for a free complimentary preview subscription.

ABOUT THE LATIN AMERICA ADVISOR

The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

Subscribers

Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Diego Arria
Director,
Columbus Group

Merike Blofield
Professor of Political Science,
University of Hamburg

Devry Boughner Vorwerk
CEO,
DevryBV Sustainable Strategies

Joyce Chang
Global Head of Research,
J.P. Morgan

Marlene Fernández
Corporate Vice President for Gov’t Relations,
Arcos Dorados (McDonald’s)

Peter Hakim
President Emeritus,
Inter-American Dialogue

Donna Hrinak
Director,
Adtalem Global Education

Jon E. Huenemann
Council Member,
GLG Inc.

James R. Jones
Chairman,
Monarch Global Strategies

Craig Kelly
Senior Director,
Int’l Gov’t Relations,
Exxon Mobil

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

John Maisto
Director,
US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Beatrice Rangel
Director,
AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

Shelly Shetty
Managing Director,
Sovereigns, Fitch

Launch of the Regional Repository of Chinese Investments in Latin America

asia & Latin America

education

energy transition & Climate

Migration, Remittances & Development

peter d. bell rule of law

cities

Women & Girls