Businessmen support 10% increase in mini-salary

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The business sector would support an increase in the minimum daily wage that is close to 10% by 2024, this would achieve the federal government's objective of wage increases reaching more than 100% by the end of the six-year term.

Next November, negotiations will begin in the National Minimum Wage Commission (Conasami), between the business sector, unions and government, to determine what the adjustment will be for the following year, the last of this administration.

Entrepreneurs consulted by Excelsior They agree that they are in favor of achieving the government's objective, of closing its six-year term with a real accumulated increase in the minimum wage of 100 percent, which is why they asked for responsibility in the proposals.

Lorenzo Roel, president of the Labor Commission of the Business Coordinating Council (CCE), recalled that “the government's expectation is to reach 100% of the adjustment to the general minimum wage of the rest of the country, while in the free zone on the northern border it is practically already “That goal was met.”

José Abugaber, president of the Confederation of Industrial Chambers (Concamin), said that they are willing to see the way, the business sector, to reach the 100% real increase in the minimum wage of workers that was proposed in this six-year term.

According to the Secretary of the Treasury, Rogelio Ramírez de la O, by 2023 the minimum wage accumulates a real growth of 84 percent.

For this reason, the leader of the industrialists assured that the union he represents is in favor of a 10% increase in the general minimum wage, which would mean an increase of 20.74 pesos per day by 2024, which would mean that the mini-salary would reach 228.18 daily pesos.

This percentage is in line with what has been analyzed by the Employers' Confederation of the Mexican Republic (Coparmex), led by José Medina Mora, who in recent days announced that he would propose an increase of 12 percent.

That is, 24.89 pesos per day for the general minimum wage, which would mean that it would reach 229.66 pesos per day.

To avoid temptation

José Abugaber warned that “there could be the temptation of a greater increase” in the context of presidential elections, since, he said, it is not convenient because it would cause greater inflationary pressures and affect the purchasing power of families.

The day before, the deputy governor of the Bank of Mexico, Jonathan Heath, stated that "we anticipate a 20% increase in the minimum wage and I would not doubt that it will reach 25 percent." However, he explained that these levels would generate inflationary pressures, since companies would have to pass on the cost of labor to the consumer.

The general minimum wage went from 88.36 pesos per day in 2018 to 207.44 pesos per day in 2023, without inflationary pressure having been reported so far.

According to Heath, at the end of 2018 less than 15% of the population earned a minimum wage or less, but today the level of the population that earns a minimum wage is 36 percent. “With the increase that occurs in January, it will surely be more than 40%, therefore, adjusting the minimum wage upwards is increasingly limited and could be an additional source of inflationary pressures,” he explained.

We have to be careful and not go beyond situations that generate an impact on the economy, on inflation and that, in the end, harm the labor sector because if the rise brought about an issue of inflationary impact, it would not help anything. The intention of the project is precisely to continue promoting the purchasing power of the general minimum wage,” said Roel.

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