Coparmex CDMX endorsed measures to boost the local economy

The Employer's Confederation of the Mexican Republic (Coparmex) of Mexico City (CDMX), described as positive the measures presented by the local government to boost the economy, which include direct support and tax write-offs to new companies that want to settle in the country's capital.

The president of the business organization, Armando Zúñiga Salinas, acknowledged that these actions represent a first step in the implementation of public policies that recognize the urgent need to recover lost jobs in the capital.

In a statement, Zúñiga Salinas classified as positive the cancellation of the Payroll Tax (ISN) for the first three months of operation to new micro and small companies that settle in the capital as positive, a proposal issued by the Business Center for 2 years and that “will offer a sign of confidence to the domestic and foreign investment, a key element for the city's economic recovery”.

Armando Zúñiga said that these initiatives should be evaluated to the extent that they contribute to a faster recovery of the 125,578 jobs that could not be recovered until February 2022 compared to those held in February 2020.

The leader of Coparmex CDMX said he was convinced that the measures presented by the local government will be the beginning of even broader measures to encourage the economy and the generation of jobs.

On the other hand, he said that the Private Initiative of the country's capital will remain vigilant so that, in three months, the results of this initiative are evaluated and, if effective, seek to expand them at least until the level of employment prior to the pandemic is recovered.

Armando Zúñiga said that he will keep in contact with the Secretary of Administration and Finance, Luz Elena González, to learn in detail the expectations that the local government has of this initiative, as well as deepening the spaces for dialogue with the local Congress to insist on the creation of a high-level table where they can be discussed the results of this measure and have the opportunity to present the proposals generated by Coparmex in the capital.

He concluded by reiterating his commitment to preserve and maintain bridges of open dialogue between decision makers and entrepreneurs in the Capital, always in favor of companies, the economy and the recovery of jobs.

As part of International Women's Day, which was commemorated on March 8, local Coparmex assured that women have been the sector most affected by the health contingency caused by COVID-19 in Mexico City.

And it is that of the 125,000 formal jobs that remain to be recovered in Mexico City as of February of this year, 38,000 correspond to women.

The National Occupation and Employment Survey (ENOE) revealed that if we compare the data for December 2019 with December 2021, it was observed that the female population of working age increased by 61,000 people, however, economically active women had only an increase of 9,000 jobs.

“This led to a decrease in the economic participation rate of women, which went from 51.5 percent to 50.9 percent. As a benchmark, the rate for men is 72 percent,” said the business organization in a statement issued on March 8.

Meanwhile, the unemployment rate rose from 4.57 to 6.28%, which meant that in that period, more than 36,000 women lost their jobs to reach a total of just over 133,000 unemployed.

“It should be noted that the number of unemployed men managed to recover and thus maintain practically the same number as in December 2019, which numbered around 142 thousand people,” the document said.

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