Mexico's Economy Mexico’s Minimum Wage Set to Increase by 20%

[Freddy]

Mexican President Andrés Manuel Lopez Obrador announced that, unanimously, the business and labor sectors, as well as the government, had agreed to increase the minimum wage by 20 percent for 2023, which will be applicable in the Free Zone of the Northern Border (Zona Libre de la Frontera Norte or ZLFN), as well as the wage applicable in the rest of the country. The increase will become official when it is published in the Official Gazette of the Federation (Diario Oficial de la Federación).

• MIR for the ZLFN: MXN $23.68
• MIR for the rest of the country: MXN $15.72