76692
Mexico Boosts Minimum Wage
Mexico Boosts Minimum Wage

Mexico Boosts Minimum Wage

Mexico Boosts Minimum Wage

The bittersweet news for Mexico’s poorest workers: the government is raising the minimum wage. But the 10.4% increase–to 88.36 from 80.04 pesos per day ($4.70 from $4.20)–falls far short of the 19% hike, to 95.24 pesos, that business group Coparmex has been pushing for, at a time when Nafta negotiations have turned the spotlight on low Mexican pay, Yahoo reported. Coparmex, which represents 36,000 businesses that account for almost a third of GDP, said the new level still left those earning the minimum wage below the poverty line. The new wage, which takes effect at the start of December, covers 92% of the amount needed to reach that threshold, up from 84%, it said. “Coparmex believes the increase is a limited step forward … for everyone working in the formal economy to obtain at least 100% of the amount needed to cover the basic basket of food and non-food basket in urban centers, that is, to reach the poverty line,” it said in a statement.

 

Short URL : https://goo.gl/yUeJwi
  1. https://goo.gl/fFTRuX
  • https://goo.gl/kTzaKN
  • https://goo.gl/gV2EA6
  • https://goo.gl/3Rinyc
  • https://goo.gl/6RCX12

You can also read ...

While China tries to alleviate its demographic crunch, the aging society means a pension shortfall.
Forget that image of sweatshops making all kinds of cheap...
Russia Economic Recovery Underway
Retail sales in Russia picked up in April, while real wages...
In 2017 banks had total mortgage lending of around $352 billion.
High levels of household debt are the greatest risk to Sweden’...
Greece at Crucial Point
Discussions are heating up over future debt repayments for...
Saudi Gov’t Told Not to Boost Spending
The International Monetary Fund urged the Saudi government not...
Peru Economy Strengthens
Economic growth in Peru strengthened in the first quarter...
Brazil CB Keeps Rates on Hold
Brazil’s central bank considered cutting interest rates last...
EU Tells Italy to Cut Debt, Warns of Euro Spillover
Italy’s incoming government should aim to cut its heavy public...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus