Mexico to hike daily minimum wage for workers by 15%
- Leftist leader Lopez Obrador, who has vowed to prioritize the poor in a country with huge wealth disparity, has said the previous minimum salaries were shameful.
MEXICO CITY: Mexico is to hike the daily minimum wage for workers by 15% next year, the government said, in a move that is likely to stoke fears of inflation after President Andres Manuel Lopez's government delivered a 20% rise in the minimum salary this year.
Leftist leader Lopez Obrador, who has vowed to prioritize the poor in a country with huge wealth disparity, has said the previous minimum salaries were shameful.
But some business groups were uneasy about another hefty salary hike and warned it could lead to adverse consequences in terms of job losses.
Mexico's National Minimum Wage Commission (CONASAMI) on Wednesday approved an increase in the daily minimum salary to 141.70 pesos ($7.15) from 123.22 pesos currently.
In the special economic areas near the border with the United States, where many US and Canadian companies are based, the minimum salary will rise to 213.39 pesos from 185.56 pesos.
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