Mexico increases the minimum wage by 10.4% and remains at 4.7 dollars per day

The Mexican government, businessmen and unions agreed to increase the general minimum wage by 10.4%, from 80.04 (4.3 dollars) to 88.36 pesos a day (4.7 dollars) from 1 December, President Enrique Peña Nieto informed today.

Mexico, Nov 21 (EFE) .- The Mexican government, businessmen and trade unions agreed to increase the general minimum wage by 10.4%, from 80.04 (4.3 dollars) to 88.36 pesos a day ( dollars) as of December 1, informed today President Enrique Peña Nieto.

"With this increase, in the last five years the minimum wage has had a recovery of 20% in Real terms, this is 45 percent in nominal terms, which had not happened more than 30 years ago, "he said at an event held at the Los Pinos residence.

Peña Nieto He recalled that at the beginning of his administration, in December 2012, "the minimum wage was only 60 pesos ($ 3.19)."

This increase, he said, contrasts "with the loss of power Purchased just inverse, of 21% in real terms, which was recorded in the 18 years of the last three administrations. "

The minimum wage in Mexico, which remains one of the lower Latin America, "should be fair compensation, and after decades of lag we are already moving in that direction with responsibility," he said.

Above all, he added, "assuring a constant and permanent rhythm that allows to maintain economic stability, stability of our macroeconomics, a low rate of inflation, and at the same time a better salary for workers. "

The Secretariat of Labor and Social Security (STPS) and the National Minimum Wage Commission (Conasami) said in a joint statement that the increase "It can benefit one million 271 thousand full-time salaried workers who receive a minimum wage."

Meanwhile, the minimum professional salaries in force since the first of January 2017 are increased by 3.9 percent.

The STPS and the Conasami, made up of representatives of the Government, employers and workers, today alluded to the good performance of the economic activity in Mexico, with a better balance between internal and external sector.

This is due to the good functioning of the macroeconomic policies and, in particular, to the progress of the reforms, which has raised the resilience of the economy in the face of external shocks, giving a positive outlook for the end of 2017.

The Confederación Patronal de la The Mexican Republic (Coparmex) had called on the Conasami to increase the general minimum wage to 95.25 pesos (five dollars) to reach the welfare line.