Mexico’s business leadership and government have agreed to a 22% increase to the daily minimum wage for 2022. It is the largest wage hike since President Lopez Obrador has been in office. To date, his administration has raised the minimum wage as follows:
– 16% in 2019
– 20% in 2020
– 15% in 2021
In monetary terms, the latest increase will move Mexico’s minimum wage to 260.34 pesos ($12.15) per day in the northern border zone, and 172.87 pesos ($8.07) per day across the remainder of the Country.
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The information contained in this article is intended for educational purposes and to provide a general understanding of regulatory events, legislative changes and the law – not to provide specific legal advice. Employers are advised to discuss and/or receive counsel from their licensed legal or accounting professional, prior to implementing any new policy or policy change.