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Kenito
Site Admin
Joined: Wed Feb 11, 2009 1:30 am
Posts: 648
Location: Rosarito, Baja California, MX
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 Mexico to Raise Minimum Wage Mexico to Raise Minimum Wage 4.85% on Average in 2010
By Thomas Black
Dec. 17 (Bloomberg) -- Mexico will raise the minimum wage by 4.85 percent on average next year, which may result in a fourth year of salary increases being outstripped by inflation.
The highest level of the minimum wage, which includes Mexico City, will rise to 57.46 pesos a day from 54.80 pesos this year, according to a statement from a commission consisting of representatives from the government, companies and labor unions. Wages in the second-highest category, which includes Monterrey and Guadalajara, will increase to 55.84 pesos from 53.26 pesos. The lowest minimum wage, applied in smaller cities, will rise to 54.47 pesos from 51.95 pesos this year.
Economists in Mexico, such as Sergio Martin of HSBC Holdings Plc and Salvador Moreno of ING Groep NV, predict average inflation will be higher than 5 percent next year.
The government boosted Mexico's minimum wage for 2009 an average of 4.6 percent to 54.80 pesos per day for Mexico City. Annual inflation averaged 5.47 percent this year through November. In 2008, inflation averaged 5.12 percent and the minimum-wage rose 4 percent.
Valdemar Gutierrez, a federal congressman and a union leader for social security system workers, last week called for an increase of at least 6 percent and said anything less was a "joke" on workers.
The increase serves as a reference for company wage negotiations because most Mexicans earn a salary that's tied to the minimum wage, economists said.
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