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Monday, October 17, 2016

Mexico has Record Job Creation Figures: 2,330,000 in Four Years

Office of the Mexican Presidency

Mexican President Enrique Peña Nieto inaugurated the CONCAMIN [Confederación de Cámaras Industriales de los Estados Unidos Mexicanos] Annual Meeting of Industrialists.

He thanked this industrial organization for its support of the government’s reform agenda. 

“In a difficult global environment, our country has economic stability and productive dynamism; the government will continue to work to ensure conditions of stability and certainty to foster a favorable business environment.” EPN

According to figures from the Mexican Social Security Institute, “In September, over 160,000 new formal jobs were registered in our country,” meaning that this administration has achieved a record figure for job creation: 2,330,000.

Economic indicators. The president detailed four indicators confirming what has been done to boost Mexico’s development and prosperity:

FIRST: He explained that Mexico has moved up six places in the Global Competitiveness Index compiled by the World Economic Forum, from 57th to 51st place of the 140 countries evaluated. 

SECOND: So far during this administration, by June this year, an unprecedented amount of foreign investment has reached the country; US$120 billion, the highest amount for this period in any administration.

THIRD: From January to September, over 1,100,000 new vehicles were sold, the highest number sold on the domestic market since 1988.

FOURTH: According to the latest data from the National Institute of Statistics and Geography (INEGI), in July, retail sales rose by an annual rate of 8.7 per cent. This is the biggest rise for this month since 2009.

“A year ago we launched the grand alliance for a new generation industrial policy, in conjunction with this Federation.

“As part of this effort, high level working groups were created for industrial competitiveness, talent generation, and production linkage, which are already yielding results.

“Thanks to these synergies, we now have a strong economy, which continues to grow and create jobs”: EPN

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"Record job creation figures: 2,330,000 in four years," Presidency of the Republic, Oct. 6, 2016, Mexico, DF; translation Presidency of the Republic

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