“On July 1, 2020, the United States-Mexico-Canada Agreement (“USMCA”) will enter into full force, when it will replace the North American Free Trade Agreement (“NAFTA”) as the primary agreement governing trade relations between the United States, Mexico, and Canada.
President Trump’s April 2017 Buy American, Hire, American executive order threatened to end or severely limit the free trade agreement between the three countries, so its preservation is a victory for businesses and for professionals who qualify for entry under the agreement…”
https://www.jdsupra.com/legalnews/goodbye-nafta-hello-usmca-45841/
“NEW YORK/TOKYO — The new North American free trade agreement that goes into effect Wednesday was touted by U.S. President Donald Trump as an engine of American job creation. But Japan’s automakers are largely opting instead to keep operations in place and pay Mexican workers more or even just pay tariffs.
The US-Mexico-Canada Agreement requires 40% or more of parts for each passenger vehicle be manufactured by workers who are paid at least $16 per hour as a condition to make them tariff free in the region. Trump hailed that feature as a way to boost production in the U.S., which has a higher hourly rate than Mexico…”
“Mexico and the United States are striving to reopen their integrated supply chains while grappling with the COVID-19 pandemic. Mexico is the United States’s biggest trading partner and the U.S. buys about 80 percent of Mexico’s imports.
The two countries, along with Canada, also plan to launch the new North American trade agreement — USMCA — on July 1. That could help the continent’s economies rebound from the pandemic. To maximize the impact on jobs and prosperity, however, USMCA’s launch and reopening supply chains need to be managed well. ..”
“…“Whether his administration realizes it or not, they creating a significant handicap for US innovation. Our most innovative and impactful portfolio companies and many of their employees started as H-1b holders,” wrote Stonly Baptiste, the co-founder of technology investment fund, Urban.us. “We literally couldn’t have built our portfolio in an environment without H-1B. And we’re not even an immigrant focused fund.”
Also on the chopping block are H-2B visas, which are used to let short-term seasonal workers in landscaping and non-farm jobs into the country, J-1 jobs for short-term workers like camp counselors and au pairs and L-1 visas for corporate company transfers…”
“…An irony of the coronavirus pandemic is that the idyllic Mexico beach vacation seen in the brochures really does exist now: The white sand beaches are sparkling clean and empty on the Caribbean coast, the water is clear on the Pacific Coast and the waters around the resort of Los Cabos are teeming with fish after 10 weeks with no boats going out. There are two-for-one deals and very eager staff.
It’s all only an airline flight – and a taxi ride and a reception desk – away, and that’s the problem…”
“…Hispanic women had the highest rate of unemployment in May (19.5%), compared with other women or men among the nation’s major racial and ethnic groups. The unemployment rate among white women jumped nearly fivefold, climbing from 2.5% in February to 11.9% in May. A steep increase in the unemployment rate among Asian women also pushed their unemployment rate in May (16.7%) to near parity with the unemployment rate among black women (17.2%)…”
“…Meanwhile white Americans saw the largest decrease in unemployment of any racial group, going from 14.2% in April to 12.4% in May. Historically, the white unemployment rate is lower than the national unemployment rate, while black unemployment can be nearly twice as high.Hispanic Americans are still seeing the highest unemployment rate of any racial group, with a 17.6% unemployment rate in May, down from 18.9% in April…”
https://www.theguardian.com/business/2020/jun/05/us-unemployment-may-jobs-report-five-key-points
“…Essential cross-border workers like healthcare professionals, airline crews and truck drivers are still permitted to cross. Truck drivers are critical as they move food and medical goods in both directions. Much of Canada’s food supply comes from or via the U.S.”
“..Latino and Asian majority neighborhoods in Los Angeles County are especially economically vulnerable to disruptions caused by COVID-19, a UCLA study found.The study, which was published April 1 by the UCLA Latino Policy and Politics Initiative and the UCLA Center for Neighborhood Knowledge, sought to locate neighborhoods in LA County that are particularly vulnerable to the coronavirus because of their large number of at-risk workers.The researchers identified two sectors of the service workforce – hospitality and retail – that are especially at risk for coronavirus-induced layoffs…”
“As the Latino community grapples with the brunt of the COVID-19 pandemic, including a higher rate of fatalities compared to other populations, the nation’s first in-depth poll of the Latino population in America for 2020 has found that 35% of Latino households have already experienced a job loss, while more than 65% of respondents reported having difficulty buying or finding necessities such as food, household supplies or medicine.
[Poll results here | Slide deck here]
The poll was conducted by Latino Decisions in partnership with SOMOS, the country’s largest physician-led health delivery network. Of SOMOS’s nearly 3,000 physicians and 800,000 patients, nearly all are immigrants or first-generation Americans, and over two-thirds are Latino…”
“The Mexican oil hedge, or the Hacienda Hedge, is considered the biggest hedging bet on Wall Street as well as perhaps the most secretive. It has earned Mexico—and a few large investment banks—billions of U.S. dollars. Mexico buys put options from investment banks and typically hedges a whopping 200-300 million barrels of oil a year. With the put options, it has the right, but not the obligation, to sell oil at a previously set price and timing. But will this tradition continue under the newly elected administration?Throughout his campaign, Mexico’s now president-elect Andres Manuel Lopez Obrador kept the oil industry on edge with comments and promises that he would review the landmark 2013 energy reform of outgoing President Enrique Peña Nieto that ended seven decades of oil monopoly in the country…”
“Hispanics are more likely than Americans overall to say they or someone in their household has experienced a pay cut or lost their job because of the coronavirus outbreak, according to a Pew Research Center survey conducted March 19-24…”
“People at an economic disadvantage are “already not doing so great in a good day, let alone in a rainy day,’’ he said.Jose Ricardo is already bracing to dip into his savings to pay next month’s bills for his mobile home in Chula Vista, California. Ricardo, a waiter at a Japanese restaurant in San Diego, is working only 16 hours a week, down from the usual 32 hours two weeks ago.“I’m really nervous,’’ said Ricardo, 61. “We are used to working hard.”With new restrictions on restaurants to serve takeout only, Richardo no longer has the extra income from tips. He makes $12 an hour.“People pay tips because they get a service. We’re taking care of them,’’ he said. “Now, with takeout, they pick it up and bye-bye.”
Ricardo, who lives with his wife, mother-in-law and two children, said he’s anxiously waiting to see how lawmakers will help him and other workers.
He’s holding out hope. “We will recover for sure,” he said…”
:..Maria J. Martinez is president/CEO of Border FCU, Del Rio, Texas. She’s a founding member of the Network of Latino Credit Unions and Professionals, the 2012 Del Rio Hispanic Chamber of Commerce Business Woman of the Year, a 2015 Woman of Distinction of the Texas Association of Mexican American Chambers of Commerce, Cornerstone Credit Union League’s 2016 Professional of the Year, and a 2017 Herb Wegner Memorial Award for Outstanding Individual Achievement winner. She has been in the credit union industry for almost 32 years…”
https://news.cuna.org/articles/117431-everyone-benefits-from-an-inclusive-work-culture
“With house passage of trade deal, experts are hopeful the USMCA will become a reality in 2020.
Trade experts say supply chain professionals have much to cheer about now that the United States-Mexico-Canada Agreement (USMCA) is closer to becoming a reality. The biggest deal? The agreement’s efforts to address customs administration and trade facilitation, which experts say will go a long way toward streamlining cross-border shipments.
“From beginning to end, it’s the…”
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“The rules for professional work visas will remain unchanged under Canada’s new free trade deal with the United States and Mexico.
The three countries approved updates to the agreement’s original text on Tuesday, December 10, paving the way for its ratification.
Under the new agreement, the chapter that deals with temporary entry for business persons and professionals, Chapter 16, remains essentially unchanged from the original North American Free Trade Agreement, or NAFTA.
Chapter 16 allows employers in Canada, the United States and Mexico to access professional labour from all three countries…”
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“…For three years, Kimberly Esquivel and her family lived in a studio apartment in Oakland, with Kimberly and her sister sleeping in the main room and her parents and two brothers in the hallway.
Esquivel’s father is legally blind and has a kidney condition that prevents him from working. Her mother sells jewelry, but it hasn’t provided enough money to improve their living situation. They can’t afford a car and food bills add up. Kimberly, 18, and her 20-year-old sister want to go to college, but they can’t do it until the family’s finances become more secure.
The Esquivels’ precarious situation is not unique. In California, more than 50 percent of Latino households are hard-pressed to make it financially, despite the state’s booming economy and strong labor market, according to a new report from Oakland’s Insight Center for Community Development…”
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The number of Hispanics and Latinos employed set a record high in August as their national, seasonally-adjusted unemployment rate matched its record low of 4.2%, U.S. Bureau of Labor Statistics (BLS) data released Friday show.
In August, the unemployment rate for Hispanics and Latinos, aged 16 and up, was 4.2%, down from 4.5% in July, returning to the record low of 4.2% in April and May – which broke the record low of 4.3% set two months earlier in February. BLS began tracking Hispanic-Latino employment data in 1973.
285,000 more Hispanics had jobs in August, as the 27,866,000 employed broke the record for Hispanic employment of 27,701,000 set in December 2018. The number of Hispanics participating in the workplace rose in August, as did Hispanics’ labor force participation rate, which increased from 66.4% to 66.7%.
The number of unemployed Hispanics fell by 98,000 to 1,216,000, down from 1,314,000 in July…”
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“…At 4.2% the Hispanic unemployment rate is the lowest it has ever been, and at 3.1% the adult women unemployment rate reached its lowest since 1953…”
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“…While immigrants from Mexico dominated the flows post-1970, the makeup of newcomers has changed since the 2007-09 recession. Recently arrived immigrants are more likely to come from Asia, with India and China leading the way. Countries such as the Dominican Republic, the Philippines, Cuba, El Salvador, and Venezuela have also seen sizeable emigration to the United States. By contrast, there were fewer Mexican immigrants in the United States in 2017 than in 2010, representing the biggest decline of all immigrant groups…”
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