COPARMEX will push to increase minimum wage

In a renewed attempt, the Employers Confederation of the Mexican Republic , ( COPARMEX ) will present this Wednesday at the meeting of the Council of Representatives of the National Minimum Wage Commission (CONASAMI) its proposal to increase the minimum wage from 80.04 to 95.24 Mexican pesos per day, starting next November.

The increase proposed to the General Minimum Wage will allow to match it with the poverty line established by the National Council for the Evaluation of Social Development Policy.

“In its current amount of 80.04 pesos, the minimum wage covers only 84% of the necessary amount to go over the poverty line. If the increase proposed by the COPARMEX is implemented, all people with a formal employment will obtain, at least 100% of the amount required to purchase the basic food basket, and go over the poverty line,” said the president of the Confederation, Gustavo Hoyos.

The proposal aims to define the increase in pesos, not percentages. And this increment should be called the Separate Recovery Amount, applicable only to the General Minimum Wage.

This measure is expected to benefit 488 thousand employees , cause no inflation, have no negative impact on employment, and should not foster informal employment, as shown with the increase in January 2017, when the minimum wage went from 73.04 to 80.04.

The COPARMEX considers this increment should be additional to the increase expected in January 2018.

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