• In Mexico, there are more jobs and we are growing.
• He said that by September, 1,614,000 jobs had been created during this administration, the highest in this period compared with previous administrations.
• Informality rates have declined: from 60.1 at the beginning of the Administration, to the current rate of 57.4 percent.
• The unemployment rate for August was the lowest since 2008: 4.68 percent; and today we have a single minimum wage for the whole country.
• During this administration, 2.7 million INFONACOT credits have been granted for the benefit of 10 million Mexicans, for a total of 32 billion pesos. The amount of credit granted to the country’s workers has quadrupled, he said.
• The president led an event to deliver support for workers’ family economies.
Noting that, “The government is acting responsibly in response to the complex international scenario,” President Enrique Peña Nieto said: “We are a government that does not resort to stridency or improvisation, but acts responsibly, with clarity as regards the objectives we have ahead.”
As he led the event to support workers’ family incomes, the president described what is happening in Mexico: “There is more employment; we are growing.”
The president declared that labor market indicators are positive: “We have already reached a record figure in job creation; Social Security data show us by September 1, 614,000 jobs had been created during this administration, in these first 34 months. And if we compare this figure with the previous four administrations, then it is undoubtedly higher.”
The president stressed that this is a government that supports and is an ally of entrepreneurs and businessmen, “Who take their chances and believe in Mexico in order to continue creating more jobs, and therefore greater well-being for millions of Mexicans.”
President Peña Nieto mentioned another important fact in the labor market variables: “The informality rate has fallen, from 60.1 percent at the beginning of the Administration to 57.4 percent today.”
He said that a third variable in our labor market is the unemployment rate, “The one recorded for the month of August and published by the INEGI is the lowest for a month of August since 2008. The unemployment rate is 4.68 percent.”
And a fourth element, he added, is that, “We no longer have different minimum wages in Mexico. Today we have a single minimum wage for the whole country, because we are a single country and we want all Mexicans to benefit from the same wage.”
During the event, the president noted that, “The government has been working to ensure that all Mexicans can have good jobs, higher incomes and better pay.” He noted that the formalization of employment allows workers to access benefits that give them a better quality of life.
He said that so far during this administration, “2.7 million families have received the benefits of the credit granted by the Institute of the National Fund for Workers’ Consumption (INFONACOT).” This means, he continued, "That almost 10 million people have benefited from loans granted by INFONACOT.”
He said that over 32 billion pesos, “Have been provided in loans through INFONACOT” and that over half of this amount, “Was for workers earning less than three minimum wages, i.e., those with low incomes.”
He said that this amount means, “Practically quadrupling the amount of credit granted to workers, if we compare it with what was provided during the same period in previous administrations.”
The president explained that all this is a result of the fact that, “Reforms are underway.” He said that Labor Reform makes the labor market more flexible and “Makes it easier for young people and women to find jobs,” while Financial Reform seeks to “Ensure that there is more credit in Mexico.”
"Today we are working to ensure that our country and our population has better quality conditions and greater well-being, which we are achieving by implementing the reforms,” he said.
At the event, President Peña Nieto witnessed the signing of an agreement to disseminate the benefits of FONACOT by the government of the State of Aguascalientes and INFONACOT. He also presented 10 loans to the same number of workers.
The president himself received a FONACOT card from Secretary of Labor and Social Welfare, Alfonso Navarrete Prida.
Afterwards, he toured the FONACOT information and credit issuing models.
THROUGH LABOR REFORM, THE NUMBER OF ESTABLISHMENTS AFFILIATED TO INFONACOT HAS QUADRUPLED IN THREE YEARS: NAVARRETE PRIDA
Secretary of Labor and Social Security Alfonso Navarrete Prida said that so far during President Peña Nieto’s administration, INFONACOT has made approximately 33 billion pesos available for workers’ benefit. He said that during the first three years of the 2000 to 2006 presidential administration, the institute had granted six billion pesos in loans and 12 billion pesos during the same period, in the 2006 to 2012 administration.
“And it has done so transparently,” he said, because, “Late last year, INFONACOT became a financial entity for development, which means that it is now overseen by the National Banking Commission.”
He said that these achievements are the result of structural reforms such as Labor Reform, which requires that all of the country’s workplaces enroll their workers in INFONACOT free, as a result of which, in three years’ time, the number of affiliated stores has quadrupled from 60,000 to 272,000 units.
Navarrete Prida said that workers benefit because they obtain access to, “Cheap, effective, long-term, sufficient credit, which occurs in an institution such as INFONACOT, which has been operating for over four decades, but gained momentum during this administration, through the real impetus of a generous face, a human face, a face of work and productivity for workers in Mexico.”
WE HAVE TAKEN VERY FIRM STEPS, WITH WORKERS AND THE GOVERNMENT TO RESTORE PURCHASING POWER. COPARMEX
Juan Pablo Castañón Castañón, National President of the Employers Confederation of the Mexican Republic (COPARMEX) said that employers are committed to quality jobs, formalizing and improving workers’ income of workers through productivity, dialogue and consensus, as a result of which, he said, “This year we have taken very firm steps with the workers’ sector and the government, to advance the recovery of purchasing power.”
He explained that, “In unity, dialogue, consensus, we have managed to work to ensure that from October 1, onwards, we will have a single minimum wage for all of Mexico, by standardizing geographical areas. One salary, because we are one country and we are all Mexicans who form one nation.”
He said that the work should be maintained in unity and, through dialogue, the public sector, workers and entrepreneurs should collaborate to build long-term businesses. Therefore, he explained, instruments such as INFONACOT are of great help as incentives for formality and productivity.
He noted that this has become apparent with the number of affiliations of workplaces to INFONACOT since micro, small, medium and large companies alike are abiding by the amendments to the Federal Labor Act, which made it compulsory to join the Institute for free.
President Enrique Peña Nieto declared that, “You, as an ally of production factors, productivity and closer to the development of Mexico, can rest assured that employers will continue constructing this committed Mexico, this Mexico of institutions, democracy and freedom.”
MEXICO HAS UNPRECEDENTED OPPORTUNITIES FOR GROWTH: LOZANO DE LA TORRE
Governor of Aguascalientes Carlos Lozano de la Torre said that, “Mexico has unprecedented growth opportunities,” noting that the structural reforms are beginning to bear fruit, as reflected primarily in greater investment and job creation.
He mentioned that new projects have been launched in the automotive sector, “Reflecting the trust of major investors and the ability to continue to attract companies with high added value for the generation of more jobs, especially now that Mexico has joined the Trans-Pacific Partnership, the world’s largest free trade area.”
He told President Enrique Peña Nieto that, "Together, we are moving on the right track, with your leadership, which has given Mexico the ability to make responsible decisions to address the social and economic demands of the present and future.”
He explained that, “Mexico is working to overcome its challenges and requires our unity and responsibility to do so, with greater opportunities and economic and social well-being, because only through investment, jobs and wealth will it be possible to overcome poverty and strengthen social prevention. This is the only way to make Mexico a more prosperous, fairer and safer country for all.”