Effects of the 2008–09 Economic Crisis on Labor Markets in Mexico
The 2008-09 economic crisis has had a long-lasting negative impact on the Mexican economy. This paper examines labor market dynamics in Mexico in light of the crisis. The labor market has been characterized in recent years by low relative unemploym...
| Main Authors: | , , |
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| Format: | Policy Research Working Paper |
| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111011084811 http://hdl.handle.net/10986/3605 |
| Summary: | The 2008-09 economic crisis has had a
long-lasting negative impact on the Mexican economy. This
paper examines labor market dynamics in Mexico in light of
the crisis. The labor market has been characterized in
recent years by low relative unemployment, but high levels
of informal jobs, low-growth, and almost stagnant real
wages. In this context, the crisis destroyed a wide number
of formal jobs, and even informal, increasing the
unemployment rates to pre-crisis levels. Manufacturing was
the sector that endured the largest job losses during the
crisis and wages decreased for all sectors. The government
of Mexico implemented a variety of programs to cope with the
crises. However, these measures were too limited to
counteract the large negative impact of the crisis on labor markets. |
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