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Mexico’s economy, employment recovered in June

Mexico’s economy, employment recovered in June

Mexico City, Jul 27 (Prensa Latina) Mexico achieved a recovery of the national economy with respect to June of last year, the Timely Indicator of Economic Activity (IOAE) reported.

The institution pointed out in a press release that economic activities most affected by the confinement to which the country was forced to by the pandemic are the ones showing greater growth dynamism.

IOAE shows that the activities with the highest annual rate increases in June were museums, historical sites, zoos and similar, with an increase of 110,3%, show promoters, sportsmen and sports teams and their agents, 56,2%, and other schools and educational services, 36,9%.

Secondary activities included oil and gas extraction, which grew 25,8%, and the manufacture of computer, communication and measuring equipment, electronic components and accessories, 10,9%.

The institution estimated an increase of 1,046,788 formal jobs nationwide with respect to June 2021. This increase was concentrated in tertiary and secondary activities.

In terms of formal jobs, the IOAE adds, food and beverage preparation services registered the largest increase in jobs (192,153 positions) on an annual basis, followed by wholesale trade (94,937) and the manufacture of accessories, electrical appliances and power generation equipment (94,751).

The estimated increase in employment by income level is mainly concentrated in workers earning up to three minimum wages (about 900 dollars) with an increase of 712,954 formal jobs in the last 12 months.

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