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Weekly Report - 08 December 2022 (WR-22-49)
MEXICO: Minimum wage hike announced
From 1 January 2023, Mexico’s minimum wage will rise 20% to M$207.44 (US$10.50) a day. This is the fifth minimum wage increase enacted under the current government led by President Andrés Manuel López Obrador, who has made the curbing of Mexico’s large income disparity and raising of minimum salaries a cornerstone of his labour policy. The raise was widely celebrated as good news for workers. However, concerns have been raised as to whether the increase is sufficient as well as its potential impact on labour informality and inflation.
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