President Enrique Peña Nieto led the ceremony to grant Infonacot loans to workers in Aguascalientes.
The government maintains its commitment to ensuring that Mexicans earn more for their work, as a result of which, reforms such as the Labor and Tax Reforms provide better conditions for formal employment.
Through the Reforms in Action, Mexico, despite the global economic turbulence, maintains positive, record results in employment.
Four indicators demonstrates the effectiveness of the reforms and the sustained growth of the job market over the past three years.
1. The creation of formal employment continues. During the first 34 months of this administration, 1,614,000 formal jobs have been reported by the IMSS. This is the highest number for the same period during the past five federal administrations.
2. Informality has declined. During these three years, the share of the informal sector has fallen from 60.1% to 57.4% last August.
3. Unemployment is falling. The figures for August show that it is at 4.68%, its lowest level since 2008.
4. A single minimum wage across the country. There are no longer different rates for different regions. There is now a single rate for the whole country, benefitting 750,000 workers who used to earn less.
Through these labor indicators, Mexico maintains a solid job market that benefits workers.