The Mexican government raised the country's minimum daily wage by 20% to MXN 123.22 starting January 1st 2020. It is the biggest wage hike in the last four and half decades. In the northern border region, where wages are higher, the minimum salary was increased by 5% to MXN 185.56. In 2019, wages increased by 16%. Minimum Wages in Mexico averaged 21.72 MXN/Day from 1960 until 2019, reaching an all time high of 102.68 MXN/Day in January of 2019 and a record low of 0.01 MXN/Day in January of 1960. source: Banco de Mexico
Minimum Wages in Mexico is expected to be 123.22 MXN/Day by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Minimum Wages in Mexico to stand at 123.22 in 12 months time. In the long-term, the Mexico Minimum Daily Wage is projected to trend around 142.90 MXN/Day in 2020, according to our econometric models.