Economic news
Mexico president to seek around 12% minimum wage hike for 2025 and beyond
2024.10.03 11:47
MEXICO CITY (Reuters) – Mexican President Claudia Sheinbaum will seek an increase to the country’s minimum wage by around 12% for 2025 and the following years, she said on Thursday.
The minimum wage in Latin America’s No. 2 economy stands at a current daily rate of 248.93 pesos ($13.54), after upward adjustments made by the previous administration.
The government will pursue “a wage increase of around 12% for next year and so on every year around 12%,” she said in a daily press conference.
Sheinbaum also said her government will continue to pursue the reduction of the working week to 40 hours, from the current 48 hours, a measure that her predecessor Andres Manuel Lopez Obrador pursued but failed to pass.
