In this paper, we use administrative data covering Mexico’s formal labor market to investigate the employment effects of the Great Lockdown (GL). Our results show that the COVID-19 pandemic and lockdown caused Mexico’s formal sector to contract by 5% by November of 2020. By August, men’s jobs started to recover, while women’s jobs remain stagnant. We then document heterogeneous effects by age, income, size of the firms, and economic sector activity. The most affected economic agents during the pandemic include the youngest workers (15–29- years-old), oldest workers (over 60 years old), low-income earners, small-sized firms (6−50 workers), medium-sized firms (51−250 workers), workers in the construction industry, and the hospitality-focused service sectors. Finally, we test different state-level factors that may explain heterogeneity within Mexico: state-level reopenings and lockdowns, infection risk, and stimulus payments. Our findings suggest more considerable employment losses in states that experienced successive lockdowns.

在本文中，我们使用涵盖墨西哥正式劳动力市场的行政数据来调查大封锁 (GL) 对就业的影响。我们的结果表明，到 2020 年 11 月，COVID-19 大流行和封锁导致墨西哥的正规部门收缩了 5%。到 8 月，男性的工作开始复苏，而女性的工作仍然停滞不前。然后我们根据年龄、收入、公司规模和经济部门活动记录异质效应。大流行期间受影响最大的经济主体包括最年轻的工人（15-29 岁）、最老的工人（60 岁以上）、低收入者、小型企业（6-50 名工人）、中型企业公司（51-250 名工人）、建筑行业的工人和以酒店为重点的服务行业。最后，我们测试了可能解释墨西哥内部异质性的不同州级因素：州级重新开放和封锁、感染风险和刺激支付。我们的研究结果表明，在经历了连续封锁的州中，就业损失更为严重。