Nuevo León’s PEA recovers in trade and services in the third quarter

Monterrey, NL. In the third quarter of 2021, the Economically Active Population (EAP)Through the employed population, this was reflected in the recovery of employment in the tertiary sector; mainly in commerce and various services, indicates the National Survey of Occupation and Employment of Nuevo León (ENOE), compared to the same period of the previous year.

There was also an increase in employment in micro-businesses and in informal conditions, as well as a decrease in unemployment and underemployment.

According to Grupo Financiero Base, for the next few months the most important risk in the country is the Ómicron variant of the Coronavirus.

“The ENOE for Nuevo León in the third quarter of 2021 reported an increase of 157,000 people in the EAP, which is reflected in an Economic Participation Rate of 61% compared to the population aged 15 years and over, a figure 2.4 percentage points higher to that of the same quarter of the previous year “, indicates the ENOE of the National Institute of Geography and Statistics.

“In 2020 there was a significant reduction in the EAP, the increase in this quarter, as well as in previous quarters, is more of a recovery to pre-pandemic levels,” he told The Economist, Roy Luka Lavcevic De la Torre, Technical Secretary of the State Ministry of Economy.

The Economically Active Population (EAP) in the state had an increase of 157,000 people, from 2.7 million to 2.9 million. Meanwhile, the employed population was 2.7 million people, reporting an increase of 167,000 compared to the same quarter of 2020.

People employed in tertiary activities increased by 97,000, the greatest impact being in the commerce sector with 60,000 employed persons and diverse services with an increase of 38,000 employed persons.

Occupancy in micro businesses increased by 59,000, and specifically in those without an establishment to operate, with 55,000 more people.

The unemployment rate decreased 0.6 percentage points, going from 5.3% to 4.6% in the state. In absolute terms, the unemployed population was 132,000 people, an amount less than 10,000 people compared to the third quarter of the previous year.

An unexpected variant

An analysis by Grupo Financiero Base with data from Inegi, indicates that “for the next few months the most significant risk is the one presented by the variant of Coronavirus Ómicron, identified in southern Africa and a few countries.”

“The severity of the variant is still unknown, but governments are anticipating the imposition of restrictions on international travel from countries where they have identified the presence of this variant. If it is a variant with a higher degree of transmissibility and mortality, the labor situation in Mexico could deteriorate considerably ”, warned Grupo Financiero Base.

In October, the national EAP was 58.69 million people, that is, 1.25 million people more than in September, while the number of unemployed decreased 0.09 million, the analysis indicates.

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