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Mexico again showed its optimism regarding the ratification of the T-MEC, the trade agreement between Mexico, the United States and Canada that will replace NAFTA (North American Free Trade Agreement) on Tuesday, when it announced its enthusiasm for a possible vote in the US Senate this week. "As we advanced a few days ago, the ratification of the T-MEC in the plenary of the US Senate seems imminent: probably this Thursday," he said in his social networks undersecretary for North America, Jesús Seade. In addition, the main Mexican negotiator of the Agreement stressed that the ratification of the neighboring country of Mexico will come “with a huge bipartisan consensus, as there was in Mexico.” “Talk about the trust and commitment to the negotiated thing. The T-MEC goes!” he concluded. Last week, the US Senate finance committee approved the T-MEC with a large majority (25 votes in favor and three against), which included Democrats and Republicans. The legislators of that country, meanwhile, highlighted the work of President Donald Trump, who will point to a political victory when it is approved in plenary. “This day had been brewing for years. President Donald Trump executed an update of NAFTA. As a result, the entire country will benefit, ”said Chuck Grassley, the Republican senator from the state of Iowa who chairs the committee. "This modernized trilateral agreement will open new markets for US exporters, create hundreds of thousands of new jobs, grow the national economy and protect local workers," he added. "I hope the Senate will act soon and the final approval is just around the corner," he completed. However, it remains to be seen what happens this week in the Upper House of the country of the stars and stripes, since the committees of health, education, work and pensions, as well as the commerce, science and transportation committees are still missing; that of budget allocations; and that of foreign relations approve the agreement in commissions before sending it to the plenary. The meetings for this to happen are scheduled for tomorrow morning (local time), so it is expected that, once with the votes of the committees involved, the ratification is only a vote, that of the full Senate, of Approve definitively. Thereafter, it will be pending for Mitch McConnell, a Republican from Kentucky and leader of the Senate, to schedule the general vote.

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The creation of formal employment in Mexico during 2019 surpassed just 342,000 jobs, the Mexican Social Security Institute (IMSS reported on Sunday, of which more than 95% of the jobs are permanent), which meant the worst job creation in one of each. These data contrast with the creation of jobs in 2018. At that time almost 661,000 places were obtained. This year's creation is the worst since 2009, when the financial and economic crisis that stagnated all the world's economies occurred. These numbers were driven, according to IMSS, by the communications and transportation sector, with 5.6%, commerce with 2.4% and services for companies with another 2.4 percent. The states with the highest annual membership increase are Nayarit, Campeche and Querétaro, with percentages greater than 5 percent. They also stressed that the base salary for contributions of workers insured to IMSS reached an amount of 378 pesos, which represents a nominal annual increase of 6.7%, the highest recorded for a month of December of the last decade. In addition, the base contribution salary registered nominal annual growth of over 6% for the twelfth consecutive month. The Institute also provides social security to about 1.3 million people, including the more than 814,000 participants of the Youth Building Future Program, a job training grant for young people who do not study or work. In December, 15,193 people joined the Pilot Program of Household Workers, with an average monthly salary of 4,708 pesos. The IMSS also reported that in 2019 there was an annual growth of 1.7% in the pattern sector, with a total of 117,463 posts in the Institute of this type. Already last December it had been announced that Mexico's economic activity contracted 0.5% in October, compared to the previous month, in seasonally adjusted terms at the beginning of the fourth quarter, accentuating the stagnation in which the second year has been maintained this year Latin American economy. The fall in the General Index of Economic Activity (IGAE) equaled a contraction of 0.5% recorded in March and is the third negative reading in four months, according to data from the National Institute of Statistics and Geography (INEGI). (Photo: Cuartoscuro) (Photo: Cuartoscuro) By large groups of activities, primary schools decreased 1.6%, secondary schools decreased 1.1% and tertiary schools decreased 0.1%, during October compared to the previous month, the institute said. "We started the quarter badly, since the IGAE decreases -0.5% in October to be -0.7% below its level last year," central bank deputy governor Jonathan Heath wrote on his Twitter account. To this is added that the Mexican industry dragged 14 months of recession and since the second quarter of 2018 began a deceleration process “that did not have an adequate diagnosis”, warned just this week a study of the Institute for Industrial Development and Economic Growth (IDIC). The report, published in La Voz de la Industria, indicates the weakening of manufactures as the main cause of the phenomenon, since only three of its components show growth of more than 1% until November: electrical accessories and appliances (1.7%), food (2.8%) and petroleum products (9.9%).

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