President of the Confederation of Employers of the Mexican Republic (Coparmex), Jose Medina MoraHe stated this on Tuesday in an interview with the publication. EFE he will propose a 12.8% minimum wage increase, with annual discussions beginning each November.
If the employer’s proposal is implemented, which brings together more than 36,000 companies that together contribute a third gross domestic product (GDP), the base salary will reach a 100% increase in the administration of President Andrés Manuel López Obrador (2018-2024).
“We think it’s a very important achievement that Mexico can compete for talent rather than a very low minimum wage,” Medina Mora said.
The business leader explained that the offer consists of 4.6% increase due to inflation expected at the end of the year plus two percentage points to 6.6%, plus a percentage to achieve independent reimbursement (MIR) increase of 26.55 pesos.
Thanks to this proposal, the minimum wage in Mexico According to the law, it will increase from 207.44 pesos per day to almost 234 pesos, that is monthly salary 7020 pesos.
Since 2019, first full year Presidency of Lopez ObradorAnnual minimum wage increases are in the double digits, starting at 16%, then 20% in 2020, 15% in 2021, another 22% in 2022 and 20% in 2023.
The business leader recalled that the discussion will begin in November this year in National Minimum Wage Commission (Konasamy) in which this increase is determined between the employer sector, the government and the workers.
López Obrador expected a “significant” increase, while union leaders told some media outlets they intended to push for a 25% increase.
On the other hand, the leader of the Mexican Employers Association acknowledged that the goal set by employers and the public sector regarding minimal salary be sufficient to meet the family’s welfare line, delayed until 2026.
He noted that this assumption, that two incomes are enough to cover the needs of four members of one household, is already a reality in the area bordering the United States, where the minimum wage is higher than in the rest of the country. , in accordance with the law.
“This goal has already been reflected in northern borderbut not in the rest of the country, we are expected to achieve this by 2026,” said the Coparmex President.
The business representative blamed this on inflation, which ended at 7.82% per annum in December 2023, the highest year-end level in 22 years.
EFE
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
