The Downside of Mexico's Job Creation

Mexico has had success creating jobs this year, but Banamex says that there is reason to be less than thrilled: the sector of the labor force earning more than five times the minimum wage --which is to say, people earning roughly $30 a day or more-- is hemorrhaging, with losses of 359,000 jobs in the year up through the third quarter of this year. That kind of takes the wind out of the excitement over the 780,000 jobs created this year.