The Council of Representatives of the National Mínimum Wage Commission (Conasami) agreed to standardize the economic zone B to the A, so that as since October 1st, 2015, the general minimum wage in the country will be 70.10 pesos per day.
During a press conference which took place at the headquarters of the Secretariat of Labor and Social Welfare (STPS), representatives of the tripartite body (government, employers and employees) indicated that this contributes to compensate the loss of purchasing power of Mexicans.
Following the commitment agreed in March by the production sectors to advance during 2015 in eliminating differences between geographical areas A and B, employers and unions agreed to increase the minimum wage in the geographical area B in 1.83 pesos a day, from 68.28 to 70.10. Zone B consists of 752,000 employees in 2,341 municipalities and districts of the Federal District.
At the beginning of the year the wage had a nominal increase of 4.2%, meaning the gain in real terms at the end of the year will be 4.1%. This will be the biggest gain for these perceptions since 1976, considering a level of less than 3% inflation. It will also be the first time in 98 year there is a minimum wage nationwide.
Business and industry leaders will assume the economic cost involved in setting the minimum wage and expressed their conviction to continue promoting the separation of mínimum wages and other contributions to federal and local laws. They commented that the establishment of a minimum wage across the country is a qualitative leap towards the promotion of the domestic market.