Mexico will increase the minimum wage by 20% in 2023

() — The Government of Mexico announced on December 1, 2022 that the country’s minimum wage increases by 20% as of 2023.

As of January 1, the daily minimum wage will go from 172 Mexican pesos (US$9) to 207 Mexican pesos (US$10.82), announced the Minister of Labor, Luisa María Alcalde, during the government’s daily press conference in Mexico City.

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The agreement was reached unanimously between the Government, the labor sector and the business sector, said Mayor.

Since the arrival of Andrés Manual López Obrador to the Government of Mexico, in December 2018, in general, the main macroeconomic indicators have remained stable, with a slight impact caused by the covid-19 pandemic in 2020.

The inflation from 4.9% in 2018 it went to 3.6% in 2019 and 3.4% in 2020, before rising to 5.7% in 2021, amid significant price increases around the world. And poverty, which reached 41.9% in 2018, had risen to 43.9% in 2020, according to data of the National Council for the Evaluation of Social Development Policy (Coneval).