Northern border reaches historic high in purchasing power with minimum wage hike – Ministry of Labor

With an increase of 20% minimal salaryThe free zone of the northern border will exceed the historical maximum purchasing power, noted the head of the Ministry of Labor and Social Protection of the Population, Marat Bolaños Lopez.

“The minimum wage in the northern border free zone has already exceeded the historical maximum purchasing power reached in 1976,” he said this Wednesday at a morning press conference President Andres Manuel Lopez Obrador.

Thanks to this measure, from January 1, 2024, border With USA, This figure will increase from P313.41 to P374.89 per day, for a total of P11,403 per month.

In turn, the final amount that workers in the rest of the country will receive will be 249 pesos per day, or 7,572 pesos per month. At the same time, the basic salary will increase by 113% between 2018 and 2024.

According to the Secretary of State, at the beginning of the current administration, the minimum wage was enough to buy 3.1 kg of beans, 3.2 kg of eggs and 6.5 kg of tortillas. Now consumers will be able to purchase 5.3 kg beans, 5.9 kg eggs and 12 kg tortillas.

On December 1, AMLO announced that the minimum wage would increase by 20%, which he called “historic.”

This is the second year in a row that the minimum wage has increased by 20%, and since 2019, the first full year of López Obrador’s presidency, the minimum wage has increased by double digits annually, first by 16% and then by 20% per year. 2020, 15% in 2021, another 22% in 2022 and 20% in 2023.

The increase occurred after negotiations in National Minimum Wage Commission (Konasami), wherein Confederation of Employers of the Mexican Republic (Coparmex) He asked for a 12.8% increase, but the unions fought for a 25% increase.

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Following the announcement, Coparmex, which represents more than 36,000 entrepreneurs in the country, estimated that the measure would benefit nearly 7.7 million formal workers.

This organization responsible for 30% gross domestic product (GDP) The Mexican noted that the goal is for the minimum wage to rise until it is sufficient to ensure family wealth, that is, enough to support an average family of four.

In this sense, he indicated that the goal will be achieved in 2026, since so far the general minimum wage covers 86% of the family welfare line, although at the northern border it has already been exceeded with coverage of 130%.

Almost 19.68 million workers earn the equivalent of one minimum wage or less, while another 19.94 million earn between one and two basic wages, according to Inegi.

Source: Aristegui Noticias

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