President Andrés Manuel López Obrador noted that the increase in the minimum wage by 20 per hundred that will begin on January 1, 2024, is “historical”.
In the living room Treasury of the National Palacearoused the growing consensus among the patronal, workplace and public sectors.
“It is something truly important, historical, it is an insight, a consensus of the professional sector, the business sector and the public sector and this goes to help a lot of thousands of workers,” he said.
You may be interested:
Minimum wage: what can you buy with the 20% increase announced for 2024?
Aguinaldo 2023: SSC applies operatives to avoid frauds and robos
Marath Baruch Bolaños Lópezsecretary of Labor and Social Forecasting, reported that in the current administration there have been six salary increases which have contributed to the reduction of poverty in 5.1 million, as well as 22.4 million employees formally registered in the country IMSS.
With this increase in the majority of the country the minimum wage will rise to 207.44 at 248.93 daily pesos, which means 7 million 572 monthly pesos, while in the free zone of the northern front it will go from 213.41 to 374.89 daily pesos, which is equivalent to 11 million 403 monthly pesos. He said that the minimum professional salaries also increased by 20%
“When in the current government the minimum wage was reached to buy 3.1 kilos of chips, 3.2 kilos of chips and 6.0 kilos of tortillas only with the increase of 20% and by the year 2024 it would be possible to buy 5.3 kilos of chips, 5.9 kilos of chips and 12 kilos of tortilla practically double,” he indicated.
Francisco Cervantes Díazpresident of the Consejo Coordinador Empresarial (CCE), removed the concern within the sectors for the increase in the minimum wage which is the sixth in what goes by the government by increasing the 110%.
I say that this increase comes at a good time because on the northern border with the relocation of businesses, “that also has a bigger increase but that also has fiscal benefits and that today our many bodegas, our many workers, we keep the historical minimum in the example at 2%”.
“Let us be sure that we will continue to inspire a vision of a social dimension in our country and work tirelessly to generate more and better people by driving economic development and creating strategies that guarantee a better quality of life for all Mexicans,” he affirmed.
I say that there are only three hues that can be resolved quickly thanks to the harmony between the sectors and the dialogue that exists, “in this case, in another way, cases we are in certain hues, and I believe that it is to be assumed, thanks to the harmony between the sectors and the dialogue we have”.
José Luis Carazo Preciado, representative of the Confederación de Trabajadores de México (CTM), signaled that this wage increase “without question is the strength of the family economy, but also the strength of the local market, the internal market of the country that needs to be stimulated macroeconomics”.
Why should the Free Zone of the North Front policy be implemented for wages in Mexico?
The modality of the Zona Libre de la Frontera Norte came into force in the first year of 2019 in 43 municipalities in the southern states: Baja California, Sonora, Chihuahua, Coahuila, New Leon and Tamaulipas. On the main purpose, I inform the president Andrés Manuel López Obradorit means doubling the minimum wage on the northern border and reactivating the economy of the region.
This proposal was implemented during López Obrador’s campaign, and was made official during the 2018 power transition, when the VAT was reduced by 8 percent and the ISR by 20 percent.
This was the minimum wage when AMLO took office (2018)
During 2018, when López Obrador came into office, The minimum wages are around 88.36 daily pesos, which assumes a monthly salary of approximately 2 million 650 Mexican pesos. Let’s record that the Federal Executive entered the National Palace on the first day of October.
The first minimum wage adjustment during AMLO’s sexennium (2019)
In 2019, the general minimum wage was 102.68 pesos, or 3 million 80 Mexican pesos, while in the Free Zone of the Northern Front the figure was 176.72 pesos, which suppoed a sum of 5 million 300 pesos. This was the first year in which the ZLFN modality was implemented, so frontline employees would benefit from it.
The 2020 minimum wage increased by 20 percent annually
In 2020, the general minimum wage was set at 123.22 (3 million 696 pesos monthly), which represents a 20 percent annual increase. Para la Zona Libre de la Frontera Nortethe amount was 185.86 (5 million 575 pesos monthly), so there was an increase of 5 percent.
By October 2018, when the presidential transition takes place, the Cabinet of the Official Executive is proposed with the reduction of the Tax on Value Aggregated (VAT) by 8 percent, the reduction of the Tax on Rent by 20 percent, as is the case the homologation of fuel prices with the United States.
Minimum salary for 2021 will reach 15% of the annual increase
The general minimum wage for 2021 was 141.70 pesos (4 million 251 million), which reflected a 15 percent annual increase. For the Free Zone of the North Front, there were 213.39 (6 million 398 mxn), with the same amount of increase.
The general minimum wage is based on 5 million Mexican pesos in 2022
For this year, the minimum wage was generally 172.87, which is 5 million 189 mxn monthly. For the ZLFN, the cantidad was 260.34 pesos (7 mil 810 mxn). Both figures represented a year-on-year increase of 9 percent.
The minimum amounts for 2023 increase by 20 percent annually
At the beginning of 2023, the general minimum wage was set at 207.44 Mexican pesos (6,223 million). On the other hand, the ZLFN received 312.41 Mexican pesos. The annual increase in both cases amounted to 20 percent.
With information from Enrique Delgado