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The coronavirus hit to the economy in CDMX: more than 100,000 jobs have been lost since March

People who have lost their jobs during this pandemic can turn to unemployment insurance. (Photo: Moisés Pablo / Cuartoscuro)
People who have lost their jobs during this pandemic can turn to unemployment insurance. (Photo: Moisés Pablo / Cuartoscuro)

The health emergency due to COVID-19 has represented important effects to the workers of multiple sectors of the economy and according to the head of government of Mexico City, Claudia Sheinbaum, in the capital more than 100,000 people have been unemployed from March to the present; the majority was linked to a outsourcing.

“More than 100,000 jobs have been lost from March to date. These mainly from some companies of what is called outsourcing who were engaged in cleaningthere is the Higher percentage. The other part has to do with construction job, which, having closed, were no longer created, ”said the president during a press videoconference.

He also stated that as activities can be resumed in the country's capital and the rate of infections of the new coronavirus decrease, the works may be recovered. However, it was clear when saying that there will be Business to which it will take longer to recover and for this reason they have set out to generate a additional employment support program.

In relation to unemployment insurance that has been given to people who have lost their jobs during this new coronavirus pandemic, the official recognized that she represents “An indispensable minimum support”.

The authorities of Mexico City and State work together to establish the return to activities scheme. (Photo: Cuartoscuro)
The authorities of Mexico City and State work together to establish the return to activities scheme. (Photo: Cuartoscuro)

I accept that it is not about the income a person had from their daily workbut it has been a relevant help for those who are going through complicated moments in terms of health, since this type of initiative was proposed in order to support the most vulnerable families.

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According to data from the Ministry of Labor and Employment Promotion, this insurance amounts to 2,641 pesos monthly; support for unemployment is 1,500 pesos for the same period; and the emerging support for non-salaried residents of Mexico City in the face of the emergency is also 1,500 pesosalthough this is a single payment.

With respect to traffic light which will be used in the entity to resume activitieshe said they are planning it to long term in conjunction with the authorities of the Mexico state and the most relevant variable that they will take into account will be the decrease of infected people in hospitals.

Details of this will be released next week. scheme with which the Metropolitan Zone of the Valley of Mexico may resume activities so much economic and social by way of staggered, since both entities are those of which more confirmed cases of the disease they register.

Nationwide, more than 600,000 jobs have been lost throughout the year. (Photo: Andrea Murcia / Cuartoscuro)
Nationwide, more than 600,000 jobs have been lost throughout the year. (Photo: Andrea Murcia / Cuartoscuro)

At the national level, the panorama in relation to lost jobs is not encouraging either, since Bank of America (BofA) foresaw a drop "massive" of the formal employment of 1,200,000 squares, the greater amount what in any other recession that you have lived in Mexico.

According to calculations made by the financial institution taking into account the official figures of the Mexican Social Security Institute (IMSS), 685,000 jobs were lost between March and April of work, a figure that doubles those created during the past year.

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In a note sent to investors on Thursday of this week, BofA stressed: "We anticipate that continue the formal job destruction, albeit at a slower rate, as the economy gradually reopens. ”

Data provided by the bank detailed that in the 494,000 were lost in the first quarter of the year Job positions; at second quarter it is estimated a 660,000 cut and in the third of 420,000. Only until room quarter, once the health emergency has abated, the recovery of 52,000 places.

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Sam Conley is new to online journalism but she is keen to learn. She is an MBA from a reputed university. She brings together relevant news pieces from various industries. She loves to share quick news updates. She is always in search of interesting news so that she can share them as well to Sunriseread's readers who could enjoy them with their morning coffee.

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