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Saudi Journal of Economics and Finance (SJEF)
Volume-5 | Issue-01 | 1-15
Review Article
The Consequences of the Economic Devastations of COVID-19 in Mexican Education 2020
Saúl Robles-Soto, Elena Zhizhko
Published : Jan. 9, 2021
DOI : 10.36348/sjef.2021.v05i01.001
Abstract
This article presents the results of a scientific economic research, which goal was to reveal the economic indicators resulting from two crises never seen before in Mexico: on the one hand, the health crisis caused by COVID19 and on the other hand, the economic crisis that has been dragging on for several decades. The authors analyzed from the modern conventional economy using the inferential deductive method, the statistical information of the five months of the year 2020 (April-August) regarding the gross domestic product, employment and unemployment in Mexico in order to understand the two crises and propose the alternatives of its solution. The study showed that the average growth rate in employment during the last 36 years in Mexico (neoliberal model) was 1.8%, while unemployment increased in the same period at a rate of 3.4%, an indicator that shows the incapacity of the model to satisfy the demand for labor of the population. Likewise, in the unemployment variable, the neoliberal model implemented since the eighties of the twentieth century in Mexico, has resulted in a low dynamism in GDP, unlike that achieved in the nationalist period, with the consequent reduced number of jobs each six-year term and with it, a considerable increase in the number of unemployed.
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