Covid-19, economic activity and formal employment. A look at the effects of the pandemic in México and Nayarit, 2020

Abstract

The objective of this writing is to document the effects of Covid-19 on economic activity and employment in Mexico and Nayarit. Economic Science, through macroeconomic analysis, offers an explanatory framework in relation to the proposed object of study: Neoclassical and Post-Keynesian theories precepts are reviewed. Due to its effects in Mexico and Nayarit, we are facing one of the deepest economic and labor crises in our economic history. There is a -21.6% drop in production in Mexico in May and a drop of -23.1% in the case of Nayarit in the second quarter of 2020. In relation to formal employment, a loss of 925,490 jobs are recorded as of July for Mexico as a whole and 17,181 jobs for Nayarit as of April 2020.