Mexico suffers worst monthly drop in jobs

Mexico lost 555,247 jobs in April amid a nationwide shutdown to stop the spread of the coronavirus, the worst monthly drop on record.

April’s formal job losses in Latin America’s second-largest economy are greater than all of the 342,077 jobs created last year.

The Mexican peso extended the day’s loss after the news, cementing the worst performance in emerging markets as it dropped 1 percent on the day.