A fall in Mexico’s employment hides a bit of good news
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Uncharted Mexico: Lies, damned lies, and employment stats
The Mexico Political Economist has previously been rather negative about Mexico’s positive job growth late last year. The addition of gig workers with no access to the benefits of formal employment to the government’s statistics seemed less like job creation and more like a technicality.
The shoe is now on the other foot. Monthly job creation fell in May for the first time this year. The shrinkage was not precipitous and for the country with the lowest unemployment rate in the OECD, it’s more of a warning shot, but there was also good news hidden in the stats.
Source: IMSS
