Other sectors of the economy that have been greatly impacted are jobs and small enterprises. The government’s restrictions have significantly reduced the workforce in Mexico. In a seven-week period between March and April, Mexico has lost more than 750 thousand formal jobs. Small enterprises have also been hit hard by the pandemic, particularly those that rely on daily sales. Their sales have been cut by 80 percent. This is generating great uncertainty for small enterprises which derived from tax obligations, suspended supply chains, and lack of available personnel to their business running.
Even with this government support, times are going to be hard for Mexico, and no one knows how long this will last. The number of COVID cases have been increasing since March, and there is still not a clear indication of when this trend will end. However, not everything is negative. This is an opportunity for Mexico, and the rest of the World, to learn and rebuild with higher resiliency for future.