Minimum Wage in Mexico to Rise in 2012

Mexicohas announced that it will be increasing the country’s minimum wage next year, starting on January 1, 2012.  For people with larger incomes, an increase in minimum wage may not be that noticeable; however, for many Mexicans, an increase in minimum wage can make a big difference by providing much-needed additional income.

It is for that reason that the National Commission on Minimum Wages or CNSM, an organization that oversees minimum wage increases and is comprised of representatives from government, business, and labor unions, has decided to approve a minimum wage hike of 4.2 percent, or about 2.51 pesos.

Though a rise in wages is appreciated, the 4.2 percent increase is only a fraction of the 10 percent increase that workers have demanded.  According to spokespeople at the Center of Labor Research and Union Consulting, or CILAS, the 4.2 percent increase is insufficient as usual and almost laughable.  Even for a minimum wage worker for whom the income difference would be most noticeable, the minimum wage increase will do little, if anything, to help them escape the poverty that many of them face.

-Doug Jones
President & Founder
Mortgages In Mexico
http://MortgagesInMexico.com
Doug@MortgagesInMexico.com

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Tags: government business, minimum wage increase, minimum wage increases, minimum wage worker

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