Mexico: How much is the increase in the minimum wage that AMLO announced in his speech in the Zócalo?

The minimum wage in Mexico will increase 22% next year, the president reported this Wednesday Andrés Manuel López Obrador (AMLO).

“It was agreed between the labor sector, employers and the government, by consensus, an increase to the minimum wage of 22% for next year”said the left-wing president in a message he gave to tens of thousands of people, in the Zócalo, Mexico’s main square, on the third anniversary of his rule.

The increase represents that the minimum wage will reach 172.87 pesos a day (8 dollars) and 260 pesos (12 dollars) in the Free Zone of the North Border.

The increase, he continued, “means that during our tenure (which began on December 1, 2018) the increase in the minimum wage has been 65% in real terms.”

The president stressed that this is “something that has not happened in more than three decades.”

What’s more “The minimum wage in the border area (with the United States) has more than doubled in the time we are in government”.

“This increase will be reflected in a real improvement in the purchasing power of workers”, assured the Business Coordinating Council.