Third wave of Covid-19 infected the creation of jobs in the service sector

In September, service sector It was the one that presented the greatest loss of the employed population with a reduction of 731,764 places. In this way, tertiary activities broke with the two-month growth trend.

“This month’s report shows the incidence of covid-19 on activities with a higher degree of physical interaction, because while the three industrial subsectors generated employment, five of the eight that make up the branch of services they had losses, ”explained Marcos Daniel Arias Novelo, chief economist at Grupo Financiero Monex.

Within the tertiary sector, activities in restaurants and accommodation services showed the greatest contraction in their employment levels with a loss of 382,810 employed persons. Commerce was the second most affected line with a decrease of 458,367 places.

“The negative results of the month are the result of the impact of the third wave of covid-19 cases In the economy. Given the increase in infections of the new coronavirus variants, the authorities found it necessary to reinforce social distancing measures and restrictions in commercial establishments, ”explained Gabriela Siller, director of Economic and Financial Analysis at Banco Base.

In the case of miscellaneous services, the loss was 105,353 jobs. At the other extreme, social services and the government had growth in their employment levels, but they were not able to cover the falls in the rest of activities.

“Something that affected August and probably spread into September was the issue of the pandemic. The recovery in this sector is not yet complete, but we do expect a rebound, especially now with the green traffic light in October, “said Ricardo Aguilar Abe, chief economist at Invex.

In this sense, Daniel Arias assured that the recovery gap in pre -ndemic occupation levels is essentially linked to services activities, since they accumulate a joint loss of 1.1 million jobs since the health emergency broke out.

For his part, Ricardo Aguilar Abe highlighted that in October the epidemiological traffic lights in green they will help the services sector to recover since, given the end-of-year commercial activities, such as the Good End and the Christmas season, higher consumption is expected and probably more hiring, especially in commerce.

Unlike August, in the ninth month of the year the only line with gains was the industrial sector, with an increase of 223,259 jobs, 80% of this increase was concentrated in manufacturing, which in the previous month was the one that reported the most losses.

“The loss was partly offset by an increase of 178,000 jobs in the manufacturing industry, which to date continues to be the most affected in relation to the levels of February 2020, before the pandemic, ”said Gabriela Siller.

At primary sector the story was not different from that of services, activities in agriculture, livestock and fishing lost 38,229 jobs. However, despite this contraction, this economic branch is located at 401,251 more employed persons than it reported before the pandemic.

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