This is how Mexico’s minimum wage is at compared to other countries

The income of Mexican workers has shown a poor performance compared to other nations in the world. Learn more about Mexico’s position in this area.

A few days ago  President López Obrador announced the increase to the minimum wage for 2020, which will go from 102.68 pesos to 123.22 pesos, which represents an increase of 20 percent; however, according to records of the National Minimum Wages Commission( Conasami ), since 2000, Mexico remained the country with the lowest growth in this area among the countries of the Organization for Economic Cooperation and Development (OECD).

It details that of the 36 countries that make up the international organization, 13 of them are below the OECD average salary, which is 15 thousand 180 dollars per year, Mexico is the one that has had the worst performance and a stagnation when registering a average annual growth of 0.6 percent, while Chile, the country that is still underperforming, grew to 3 percent in the same period, that is, five times more than Mexico.

“The real minimum wage in Mexico has been stagnant in the international context, reaching $ 1,982 per year in 2017, while in 2000 it amounted to $ 1,788, according to the National Minimum Wages Commission based on data from the Organization for Cooperation and Economic Development( OECD ), “said Conasami.

Between 2000 and 2017, three countries exceeded the average minimum wage in the OECD, with Slovenia being the first to exceed it in 2011, although between 2015-2017 it falls below the average. Spain was the second country to overcome the gap in 2015 after the minimum wage fell in 2013. Finally, South Korea exceeded the average salary in 2016 by growing in the 129 percent period.

In 2017, despite the growth of the minimum wage in Mexico of 10.8 percent in 17 years, the country has consistently remained below the other members of the organization and, even, the difference between Mexico and Chile is 257 percent.

Source: milenio

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