Mexico Loses Nearly 600,000 Jobs

Country has lost 596,200 jobs since June 2008, a 4.1 percent decline as of June of this year, Mexico’s Treasury Dept. said.

Jul 31st, 2009

MEXICO CITY (AP) -- 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.

More in Supply Chain
In this Jan. 21, 2009 file photo, Bernard Roques, a refiner of Societe company, smells a Roquefort cheese as they mature in a cellar in Roquefort, southwestern France.
France Threatens Retaliation if US Doubles Champagne, Cheese Prices
The proposed tariffs include Roquefort cheese, handbags, lipstick and sparkling wine — in retaliation for France’s tax on American tech giants.
Dec 3rd, 2019
People carry shopping bags while crossing a street in San Francisco, Friday, Nov. 29, 2019. Black Friday once again kicked off the start of the holiday shopping season.
Black Friday Online Sales Hit Record $7.4B
Researchers with Adobe Analytics expect online sales to jump to another record this Cyber Monday.
Dec 2nd, 2019
In this Thursday, Nov. 28, 2019, photo, trucks load containers at the automated container dockyard in Qingdao in east China's Shandong province. A Chinese official newspaper has reiterated, repeatedly, Beijing's demand that the U.S. roll back tariffs imposed by President Donald Trump's administration in exchange for a deal. The Communist Party newspaper Global Times ran several articles Monday, Dec. 2, 2019 that emphasized there would be no deal without a promise to phase out the tariffs imposed by Washington.
China Urges Rollback of US Tariffs
New U.S. tariffs are set to kick in on many Chinese-made products, including laptops and smartphones, as of Dec. 15. A preliminary deal could avert that.
Dec 2nd, 2019
I Stock Production Assembly Line
Make Bottleneck Management a Priority
It's time for digital transformation to address the biggest problem in manufacturing: bottlenecks.
Nov 27th, 2019
Assets Img Media Tw%20 Photo%201
UPS Announces 4.9% Rate Hike for 2020
The increase is identical to the one FedEx announced two months ago.
Nov 21st, 2019
In this June 12, 2019 file photo, General Motors employees work on the chassis line as they build the frame, power train and suspension onto the truck's body at the Flint Assembly Plant in Flint, MI.
GM Strike Pushes October Industrial Production Down 0.8%
The Federal Reserve said Friday that manufacturing output tumbled 0.6% last month, largely because production of cars and auto parts plunged 7.1%.
Nov 15th, 2019
In this Nov. 5, 2019 file photo, an electronic card with ballot information is seen inserted in a voting machine in Dallas, GA.
Unknowns about 2020 Election Make Some Businesses Cautious
Presidential election years can be tough on small and mid-sized businesses — they tend to cut their spending when they're uncertain about what lies ahead.
Nov 6th, 2019
In this June 28, 2018 file photo, senior melt operator Randy Feltmeyer watches a giant ladle as it backs away after pouring its contents of red-hot iron into a vessel in the basic oxygen furnace as part of the process of producing steel at the U.S. Steel Granite City Works facility in Granite City, IL.
Why Tariffs Haven't Revitalized American Steelmakers
After enjoying a brief tariff-induced sugar high last year, American steelmakers are reeling.
Nov 5th, 2019
In this Oct. 23 file photo, a worker climbs a ladder as cranes work the construction site for the new corporate headquarters of Norfolk Southern Railway in Atlanta.
US Construction Spending Rises 0.5% in September
The Commerce Department said Friday that government construction rose 1.5% during the month, powered by state and local building.
Nov 1st, 2019
In this July 30, 2019, file photo people work in the production area at the Honda Aircraft Co. headquarters in Greensboro, NC where the HondaJet Elite aircraft is manufactured.
US Manufacturing Contracts for Third Straight Month
Twelve of 18 manufacturing industries contracted in October, led by primary metals, clothing and textile mills.
Nov 1st, 2019
In this Nov. 27, 2018 file photo, a banner depicting the Chevrolet Cruze model vehicle is displayed at the General Motors' Lordstown plant in Lordstown, OH.
AP: Trump's Rust Belt Revival is Fading. Will it Matter in 2020?
A year away from Election Day, President Trump's promised coal and steel renaissance is not materializing.
Oct 31st, 2019
In this June 19, 2019 file photo, the Washington news conference of Federal Reserve Chair Jerome Powell appears on television screen on the trading floor of the New York Stock Exchange shows the rate decision of the Federal Reserve.
Fed Cuts Rates a 3rd Time this Year but Signals Likely Pause
The Fed's move reduces the short-term rate it controls — which influences many consumer and business loans — to a range between 1.5% and 1.75%.
Oct 30th, 2019
Merger I Stock
PwC: Scale Transactions will Remain the Focus for Industrial Manufacturing Sector
2019 M&A activity in industrial manufacturing has been driven by scale transactions, and it's expected to continue into next quarter and 2020.
Oct 25th, 2019
In this Monday, Sept. 23, 2019 photo Maria Alvarez, front, and her husband Guillermo Alvarez, behind, both of Boston, examine clothes washers and dryers at a Home Depot store location, in Boston.
US Durable Goods Orders Fall 1.1% in September
The declines underscored the troubles manufacturing is having in the face of a global slowdown and trade war uncertainty.
Oct 24th, 2019