October 31, 2020

Andrés López Obrador predicts that Mexico will lose 1 million jobs due to the pandemic



The Mexican economy will lose a total of 1 million jobs due to the coronavirus crisis, the president, Andrés Manuel López Obrador, predicted this Sunday, estimating that in May the fall will be 400,000 formal jobs.

“I have my prediction that with the coronavirus 1 million jobs will be lost, I already mentioned that in the United States 20 million jobs were lost in April, all proportions kept, but I also want to say that we already have a plan “he expressed in a video on his social networks.

The president recalled the trend of the Mexican Social Security Institute (IMSS), which reported the disappearance of 198,033 places in March and 555,247 in April, a total of 753,280 lost jobs.

However, when considering the jobs created in the first months of the year, the IMSS argued that the reduction in the first quarter of 2020 is only 493,746 jobs.

The IMSS, which presents one of the main indicators of formal employment, attributed it to the health emergency that the Government decreed on March 30 for COVID-19, which has left more than 65,000 infections and 7,000 deaths.

Despite acknowledging the figures, López Obrador reiterated his promise to create 2 million jobs this year with government programs, such as Youth Building the Future, the Urban Improvement Program and Seeding Life, which will contribute more than 200,000 jobs each, according to him.

He added that his infrastructure works will generate jobs: 80,000 for the Maya Train, 72,000 for the Dos Bocas Refinery, 44,000 for the new Santa Lucia Airport in Mexico City, and 47,000 for the construction of 1,350 Banco del Bienestar branches.

He also highlighted the hiring of 45,080 health workers to face the pandemic.

“They are going to be lost with the crisis, that is my calculation, it is quite a challenge, around 1 million, but we are going to generate 2 million new jobs, and the economy is starting to reactivate, as of June 1 it opens little by little, “he reiterated.

MEXICO ‘COMES BACK’ THE CRISIS

Despite the international crisis, the project of the Fourth Transformation of Mexico persists, the president reiterated.

“So well that we were going and we are presented with the pandemic, but as we had already started measures to fight corruption, to make an efficient government, fair, because the pandemic did not catch us badly and we have been able to overcome the crisis world economy, “he said.

The president presumed indicators such as the annual increase of 2.6% in revenue so far this year to 1.7 trillion pesos (more than 77,000 million dollars).

Likewise, he recalled the annual increase of 1.7% in Foreign Direct Investment (FDI) in the first quarter of the year to $ 10,337 million.

Faced with the “closure of the world factory”, that is to say China, he predicted that the country will gain attractiveness thanks to the new Trade Agreement of Mexico, United States and Canada (T-MEC), which comes into force on July 1.

“In a very special circumstance, Mexico is now one of the main countries, if not the main country to receive investments and develop companies thinking that the market in the United States and Canada is guaranteed,” he reflected.

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