Coronavirus could cost Mexico a million jobs: president

Coronavirus could cost Mexico a million jobs: president
  • Clock-gray 04:04
  • calendar-gray 25 May 2020

Mexican President Andres Manuel Lopez Obrador said on Sunday that the novel coronavirus could cost as many as a million jobs in the country as many industries considered not essential remain shut, APA reports quoting Reuters. 

The Mexican economy was already in recession before the pandemic struck and different investment banks have forecast contractions as large as 9% for this year with only a gradual recovery next year. 

“My prediction is that with coronavirus, a million jobs will be lost,” Lopez Obrador said in a televised speech. “But we will create two million new jobs.” 

The job loss number matches the estimate by the country’s business coordinating council (CCE).

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