Mexico to Give Minimum Wage Another Boost

The Mexican government, labor and business sectors agreed Monday to raise the minimum wage by 16.2% in 2019, a third consecutive year of double-digit increases aimed at restoring the purchasing power of the country’s lowest earners, the Wall Street Journal reported. The minimum wage will rise to 102.68 pesos ($5.10) a day from 88.36 pesos on Jan. 1, while along the northern border with the U.S. the minimum daily wage will double to 176.72 pesos ($8.80), said Labor Minister Luisa María Alcalde. Mexicans work longer hours than anyone in an Organization for Economic Cooperation and Development country, but wages are among the lowest, she said. Mexico’s minimum wage has for years been insufficient to pay for the most basic needs. Few workers in formal jobs earn that little, although millions are paid somewhere between one and two times the minimum wage, according to government data. Read more. (Subscription required.)