Mexico: Unemployment Increases To 2.8 Million People

Mexico's National Institute of Statistics and Geography (Inegi) reported on Tuesday that unemployment in the country increased to 2.8 million people in the third quarter of 2020.

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The institution explains that there was an increment of 622.000 citizens compared to the same period in 2019. Although there are early signs of recovery, the unemployment figures are still below the pre-pandemic levels.

According to Inegi, 4.2 million were unemployed in the third quarter of 2020, out of which 1.1 million came from commerce, 1.1 million from restaurants and accommodation, 747.000 from other services, 559.000 from manufacturing, and 218.000 from construction.

Moreover, the data shows that women have been the hardest-hit by the unemployment crisis as in the third quarter of this year, over 19 million women were working, compared to more than 31 million men.

In particular, small businesses and the informal sector, which represent more than half of the country's overall workforce, are heavily impacted. At least 3 million casual workers lost their job in the third quarter of 2020 compared to the same period last year.  

The Inegi calculates that due to the economic crisis unleashed by the COVID-19 pandemic, the unemployment rate increased from 3.7 percent to 5.1 percent from 2019 to 2020.