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Minimum wage increase projected for 2023

In an environment of runaway inflation, which already exceeds 8% in the country, the president of the National Minimum Wage Commission (Conasami) Luis Munguía Corella, head of this decentralized body, will seek to reach a consensus with the labor sector and bosses to raise the minimum wage next year.

Mexico began 2022 with an increase of 22% compared to the previous year, going from 213.39 to 260.34 pesos a day on the northern border and from 141.70 pesos to 172.87 pesos in the rest of the country, a step in favor of labor rights.

Therefore, the National Minimum Wage Commission is preparing its next proposal to raise the minimum wage for 2023. The goal of his Administration is for this salary to reach 260 pesos a day at the end of the six-year term, he commented in an interview.

In Mexico, around 19.2 million people earn up to a minimum wage, an increase of 6.2% compared to the 14.8 million people who earned that salary in 2017. It should be noted that the minimum wage in Mexico is still one of the lowest in the OECD and in Latin America, so it is expected that it will continue to rise in the next administrations, at least remain and they will try to improve it.

We inform you that this information provides general information based on the current laws and regulations, and in case of an individual report, be sure to receive advice from an expert before handling it.

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