Coparmex asks its peers to increase minimum wage ‘at once’

“We propose to organizations and companies that they do not wait for the minimum wage to reach the level of family well-being, if, to the extent of their possibilities, they pay it at once, including a proposal for a third level, that is, , look at those who earn the least,” said José Medina Mora, president of Coparmex.

He highlighted that for many years the minimum wage did not move because it was linked to 2,000 prices.

That is to say, the minimum wage rose, but also the 2,000 prices, a fact that generated inflation and the purchasing power of workers’ salaries was lost.

But in 2016, it was possible to separate the minimum wage from these prices, the Measurement and Update Unit (UMA) was created and the minimum wage has been gradually increased by more than 100% from 2016 to date.

“We still have a long way to go, the goal is to reach the line of family well-being,” said Medina Mora.

He also mentioned the issue of informality, a situation in which 56% of Mexicans are.

“When speaking with them they have told us that instead of pointing them out for not paying taxes, we should help them enter the formality.”

The Coparmex Inclusive Development Model proposes that economic growth must be accompanied by social and sustainable development to ensure that opportunities reach the entire population of Mexico.

“A world with economic development, with care for the environment and with social justice is possible. (…) Social development means quality education, health for all, decent housing, but also an increase in minimum wages.”