In poverty, more than 9.3 million Mexicans with a bachelor’s and master’s degree

There are more than nine million Mexicans, with undergraduate and even master’s degrees, which live in conditions of poverty and economic precariousness.

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Most of them earn between one and two minimum wages; and, at best, they aspire to an income of seven thousand to 10 thousand pesos a month.

It is a national trend, where 68% of the population does not live off the product of their work; and depends on subsidies or transfers from social programs like Prospera.

These are the main conclusions of an analysis made by Miguel Santiago Reyes Hernández, specialist of the Research Institute for Development with Equity of the Universidad Iberoamericana, on the occasion of the commemoration of Labor Day.

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He explained that his reports the importance of job creation; however, most employments are low paid; between one and two minimum wages, with an income of less than five thousand 300 pesos per month.

“In 2017 there was an increase of 478 thousand positions that offer a minimum salary –of 88.36 pesos a day–; those that pay two minimum wages increased by 638 thousand 886.

“On the contrary, at levels two to three, three to five and more than five minimum wages, 706 thousand 861, 186 thousand 176 and 734 thousand 206 jobs were lost, respectively,” the Inegi reported.

PROFESSIONALS IN POVERTY

The Ibero researcher said in recent years there was a substitution of jobs: where professionals who earned more than five minimum wages – or more than 13 thousand pesos a month – were laid off and hired – in other companies, – with one or two minimum wages.

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“It is a reality: the higher the educational level, the greater the loss of purchasing power. Why? Because businesses are shutting down that offered six, seven or eight salaries, which had bachelor’s degrees and even postgraduate degrees.

“During the last sexennium the minimum wage registers a real loss of 5%; But among professionals or those who studied a career, the decrease in purchasing power soars up to 25%, on average.

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“There are those who, given the loss of employment, the lack of opportunities and precariousness of the labor market, accepted half of what they earned; and that leads them to poverty.

POVERTY HITS YOUNG AND NEW GRADUATES HARD

In an interview with Publimetro, Reyes Hernández explained that recent graduates are the most hit by precariousness and poverty; conditions caused by low wages and the offer of places where knowledge or skills are not taken into account.

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He explained that, according to the National Survey of Occupation and Employment (ENOE), there are 15 million young people, aged 15 to 29, who already work or do some economic activity.

And of these, he said, 33% have a bachelor’s degree and 8% have a bedridden, but earn between one and two minimum wages; With an income of five thousand 300 pesos per month.

“We are talking about 41% of young people – equivalent to six million 150 thousand people, under 30 years of age – with a career or master’s degree, living in poverty.

“But, if we take into account those who earned more than five salaries, they lost their job and now earn up to half; we must add three million 172 thousand affected …

“This gives us a total of nine million 322 thousand people under the poverty line; whose income is not enough to buy a basic food basket for their whole family and cover basic services. That’s how serious the situation is, ”said the specialist.

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LABOR MARKET IN FIGURES

The Inegi reported that, at the end of last March, the country’s labor market reported the following indicators:

  • Economically Active Population (PEA): 54 million 696 thousand 638 people.
  • Employed population (formal and informal market): 52 million 865 thousand 845 people.
  • Unemployment Rate: 3.2% of the PEA.
  • Unemployment among men: 3.2%.
  • Unemployment among women: 3.3%
  • Urban unemployment rate: 4%
  • Labor informality: 56.9% of the employed population; equivalent to 30 million 80,666 people living on the street; or, in businesses that do not give them social security, health services or pension funds.

Source: publimetro.com.mx, inegi

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