| | |  Business News | July 2009 
Mexico Loses Almost 600,000 Jobs Since June 2008
 Associated Press
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July 31, 2009
| | People walk in between parked busses in downtown Mexico City July 30, 2009. Mexico is closing in on another lost decade as political gridlock blocks an overhaul of its economy that could create jobs and keep its workers from having to emigrate to the United States. (Reuters/Claudia Daut) | |
Formal-sector employment in Mexico shrinks by almost 600,000 jobs, 4.1 annual decline
Mexico City - Mexico's Treasury department says the country has lost 596,200 jobs since June 2008, a 4.1 percent decline as of June of this year.
Many Mexicans who lose formal jobs turn to unregistered activities like street vending.
The department's report on second-quarter economic activity says GDP shrank by 10.4 percent on an annualized basis in the period, similar to the central bank estimate released earlier this week of 11 percent.
Total exports are down 31.7 percent from June 2008.
The department's report Thursday blamed the declines on "an adverse external environment" and the swine flu outbreak in Mexico that caused widespread shutdowns of commercial activity. |
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