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Mexico Increases Minimum Wage by 20% for 2023

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Post by BisbeeGal Sat Dec 03, 2022 6:14 am

While Lakeside wages normally exceed the min. wage, it is used to calculate fines (traffic) and other infractions.
https://edition.cnn.com/2022/12/01/americas/mexico-minimum-wage-2023-intl-latam/index.html

More importantly locally, the requirements for income and assets to qualify for residency visas are also based on the min. wage.

Beginning Jan. 1, 2023 the current thresholds for resident visas will go up 20% across the board.
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Post by CanuckBob Sat Dec 03, 2022 7:08 am

Wow.....that is another huge increase. AMLO had promised to raise the minimum wage by 100% when he was elected. I believe he has increased it by around 70% since taking office. He will likely increase it the last 30% in the next two years.

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Post by BisbeeGal Sat Dec 03, 2022 2:10 pm

According to TGR this week, the min. wage was 88p when AMLO took office, so it will be more than doubled as of Jan. 1st when it goes to 207.
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Post by CanuckBob Sat Dec 03, 2022 7:32 pm

This is what I found in MND.

AMLO has mostly stuck to his campaign pledge, raising the minimum wage by 16.2% in 2019; 20% in 2020; 15% in 2021; and 22% in 2022. He also introduced a higher daily rate in 43 municipalities that make up the Northern Border Free Zone, aiming to improve the local economy and dissuade would-be migrants from leaving the country.

“[The minimum wage] went from 88 pesos to 172 pesos, an increase of 62% in real terms,” AMLO emphasized in his speech. “On the border, it has more than doubled. Never seen in 40 years.”

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