Here we tell you how the minimum wage for next year 2025.
Every year-end, Mexican workers wait to find out how much the minimum wage will increase.
He 2022 It is the year that the minimum wage increased the most with an increase of 22 percentbut by 2025 it could be at least 12 percent (the lowest figure in six years) according to the president’s announcement Claudia Sheinbaum from the past October 3 who said that this percentage could increase per year.
The president’s goal is that at the end of her six-year term the minimum wage is equivalent to 2.5 basic baskets.
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“Our goal is for each minimum wage to reach 2.5 basic baskets, now it is in 1.6. We work on it with economists so as not to impact the inflation. That means a salary increase of around 12 percent next year (2025) and so on every year,” Sheinbaum said.
To achieve this, the president indicated that it is necessary to establish it together with the representatives of the workers, los patterns o companies and the Government of Mexico.
In that sense, the Federal Labor Law (LFT) fixed to the National Minimum Wages Commission (Conasami) as the tripartite body that establishes the increase amounts for the minimum wage.
The past October 9 he Senate of the Republic approved in general and particular the reform to article 123 of the Constitution which establishes that minimum wages are not below inflation.
This is how the minimum wage could look in 2025
It should be remembered that in the 2024 the Conasami determined for the year that the daily payment is 248.93 pesos y 374.89 for the Northern Border Free Zone.
Based on these data and considering the possibility that an increase of at least 12 percent is determined by 2025, the minimum wage for next year would remain at 278 pesos a day (an increase of 29.87 pesos) y 419.87 pesos daily (an increase of 44.98) for the Northern Border Free Zone.
It will be in the month of December that the Conasami endorse or modify the possible increase.
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This is how the minimum wage has increased in the last six years
At the beginning of the six-year term of the now former president Andrés Manuel López Obrador the minimum wage was 88 pesos dailythat is to say, 2 thousand 687 pesos monthlybut at the end of his term it remained at 249 pesos per day or 7 thousand 508 pesos per month.
Thus the increase each year in percentages:
- 2019: 16.2% increase in the minimum wage.
- 2020: 20% increase.
- 2021: 15% increase.
- 2022: Increase of 22%.
- 2023: 20% increase.
- 2024: 20% increase.
LEO
Related
- What are the potential economic impacts of increasing Mexico’s minimum wage by 12 percent in 2025?
Interview: The Future of Mexico’s Minimum Wage
Host (Time.news Editor): Good day, everyone! Welcome to our special interview segment on Time.news. Today, we have with us Dr. Maria Gonzalez, a labor economist and expert on wage policies in Mexico. Thank you for joining us, Dr. Gonzalez.
Dr. Maria Gonzalez: Thank you for having me! It’s a pleasure to be here.
Host: Let’s dive right in. As we’ve learned recently, the President Claudia Sheinbaum announced a potential minimum wage increase of at least 12 percent for 2025. How significant is this increase, especially compared to previous years?
Dr. Gonzalez: This year’s proposed increase is indeed notable, though it marks the lowest percentage increase we’ve seen in six years. For context, in 2022, the minimum wage saw a significant rise of 22 percent. While a 12 percent increase may sound decent, it raises questions about its adequacy given the current inflationary pressures and the rising costs of living for many Mexican workers.
Host: That’s a valid point. Can you explain what the President means when she mentions the goal of aligning the minimum wage with 2.5 basic baskets? What does that actually entail for workers?
Dr. Gonzalez: Certainly! The concept of aligning the minimum wage with 2.5 basic baskets means that by the end of her term, the minimum wage should cover the cost of essential goods required for a decent standard of living. Right now, the wage is equivalent to 1.6 basic baskets, which indicates that many workers are not earning enough to meet their basic needs. This goal aims to improve economic security for workers and their families.
Host: There’s also been mention of involvement from representatives of workers, employers, and the government. How essential is this tripartite dialogue in making wage policy decisions?
Dr. Gonzalez: It’s absolutely crucial! The tripartite approach ensures that all stakeholders have a voice in the decision-making process. Historically, wages have often been influenced heavily by political agendas rather than the actual needs of the workforce or the economic realities faced by employers. By involving all three parties—workers, employers, and the government—there’s a better chance of achieving a balance that is fair and sustainable.
Host: Recently, the Senate passed a reform stating that minimum wages cannot fall below inflation. What impacts might you expect from this decision?
Dr. Gonzalez: This reform is a significant step toward protecting workers from the erosion of their purchasing power. It ensures that increases in prices do not outpace wage growth, which has been a growing concern in recent years. If effectively enforced, this can lead to more stability in working conditions and improve overall worker morale. However, it’s important to monitor how this will interact with other economic factors like job creation and business operational costs.
Host: Let’s talk numbers. With the current situation, the daily minimum wage could be set at 278 pesos in 2025. Do you think this amount is sufficient, and how does it compare to previous years?
Dr. Gonzalez: Based on inflation and the rising cost of living, a daily wage of 278 pesos is still modest. While it marks an increase from the current figure, it’s essential to analyze whether this amount will keep pace with inflation in real terms and whether it will be sufficient to support a family’s needs. If inflation continues to escalate, even a nominal increase could quickly lose its value.
Host: That’s an enlightening perspective. As we anticipate the official announcement in December, what should workers and employers be doing in the meantime?
Dr. Gonzalez: Workers should stay informed and engaged, advocating for their rights and pushing for adequate wage increases that reflect their needs. Employers, on the other hand, should plan their budgets accordingly, taking into account potential increases and considering how they can support their employees while maintaining their business viability. Open communication between workers, employers, and policymakers is key as we approach this important decision.
Host: Thank you so much, Dr. Gonzalez, for your insights. The conversation around minimum wage is crucial for many families in Mexico, and your expertise sheds light on the implications of these policies.
Dr. Gonzalez: Thank you for having me! It’s important to keep this dialogue going as we approach these changes.
Host: And to our viewers, thank you for tuning in. Stay informed, and we’ll continue to bring you updates on this and other pressing topics. Until next time!