On December 1st, 2016, the Labor and Social Security Ministry released through an informative note, that the representatives of the National Wages Commission Board (known as “CONASAMI”), in the performance of their duties and authority, unanimously resolved to increase the current minimum wage amount in Mexico to $80.04 pesos effective on January 1st, 2017.
The increase approved by the representatives of the National Wages Commission Board is the result of adding $4.00 pesos to the current minimum wage of $73.04 for “Monto Independiente de Recuperación” (roughly translated: “Independent Recovery Amount” known as MIR), and to apply the increase of 3.9% to this new amount.
Therefore, as of January 1st, 2017, the minimum wage amount will be $80.04 pesos.
The increase of 3.9% will be also apply to the minimum wage determined for the rest of the professions.
The employers, employees and representatives of the Federal Government who are members of the National Wages Commission Board, explained that such increase aims to contribute to the recovery of acquisition power of employees hired on a salary basis that earn a minimum wage.
CONASAMI has until December 31st, 2016, to determine the salary minimum increase for 2017, therefore, if there is any change or adjustment in such period, the increase of the minimum wage to $80.04 pesos will be published in the Federal Official Gazette and shall become effective on January 1st, 2017.
SINCERELY
| Jorge G. de Presno Arizpe, Esq. | jorgedepresno@basham.com.mx |
Mexico City, on December 5th, 2016.
