In the region comprised by Campeche and Tabasco - where crude oil production represented 66% of GDP in 2017 - IMSS-registered employment fell slightly more than 12% YoY in July 2016. In the motor vehicle industry, for instance, production in Mexico fell by 48% from June 2008 to 2009 but twelve months later, in 2010, unit output had rebounded to an all-time historical high for the month of June. This development was a byproduct of the financial crisis that momentarily brought the manufacturing sector in North America to its knees. Juárez are located - shrunk by almost 12% YoY in June 2009. Private-sector employment registered by IMSS in the states of Quintana Roo and Baja California Sur - which had for decades outperformed in terms of job creation - slumped almost 20% in the month of May after a 97% YoY plunge in commercial airport traffic in CUN and SJD with no respite in sight.įor reference, formal employment in the states of Baja California and Chihuahua - where the export-led manufacturing hubs of Tijuana and Cd. The tourism sector in Mexico is being very hard hit by the COVID-19 pandemic and economic hardship to the population serving visitors of international resort destinations like Cancún, Los Cabos and Puerto Vallarta will be greater in scale and longer-lasting than that experienced in any other industry-dependent region over the past two decades. Line thickness is proportional to the region’s population In addition to resulting in tens of thousands of deaths in Mexico, the COVID-19 pandemic has brought severe economic hardship to the door of millions who depend on international tourism for a livelihood and unfortunately there is no measure of demand stimulus available that can help the industry and region on the scale it needs.Įmployees Insured by IMSS IMSS ( Instituto Mexicano del Seguro Social) is a government entity that provides health insurance and social security benefits to private-sector employees in Mexico. This record has now been broken during the 2nd quarter of 2020 with the airport serving only 288 thousand passengers. Wilma is the most intense hurricane ever recorded in the Atlantic Ocean and - causing damages to the tune of 1,752 million USD - became the most expensive insured event in the history of Latin America.ĭuring the 4th quarter of 2005 CUN handled 1.2 million passengers, the lowest number in over two decades. The hurricane exited the Yucatán Peninsula into the Gulf of Mexico on October 23 and a day later struck Florida. On October 21, 2005, hurricane Wilma first made landfall on Mexico’s shores striking the island of Cozumel.