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Effects of the 2008-09 economic crisis on labor markets in Mexico

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Author Info

  • Freije, Samuel
  • Lopez-Acevedo, Gladys
  • Rodriguez-Oreggia, Eduardo

Abstract

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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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 5840.

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Date of creation: 01 Oct 2011
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Handle: RePEc:wbk:wbrwps:5840

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Related research

Keywords: Labor Markets; Labor Policies; Population Policies; Labor Standards; Economic Theory&Research;

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  1. Raphael Bergoeing & Patrick J. Kehoe & Timothy J & Kehoe & Raimundo Soto, 2001. "A decade lost and found: Mexico and Chile in the 1980s," Staff Report, Federal Reserve Bank of Minneapolis 292, Federal Reserve Bank of Minneapolis.
  2. Ebrima Faal, 2005. "Gdp Growth, Potential Output, and Output Gaps in Mexico," IMF Working Papers, International Monetary Fund 05/93, International Monetary Fund.
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Cited by:
  1. Cabanillas, Oscar Barriga & Lugo, Maria Ana & Nielsen, Hannah & Rodriguez-Castelan, Carlos & Zanetti, Maria Pia, 2014. "Is Uruguay more resilient this time? distributional impacts of a crisis similar to the 2001/02 Argentine crisis," Policy Research Working Paper Series 6849, The World Bank.

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