The increase in the minimum wage for 2025 will be between 10 and 11.5 percent, calculated the consulting firm Aon.
With this increase it would be above inflation, but below the increases of the last six years.
Rocío Hernández, director of Compensation Consulting at Aon, said that the intention is to unify the minimum wage at the national level again and therefore the increase that will be received on the northern border will be around 5.1 percent. “Now the border is lower because what we have heard from the president, Claudia Sheinbaum, is that she is thinking about unifying the minimum wage at the national level.
“In 2019, the minimum wage on the border grew by 100 percent. And now the reverse effect is coming, that the growth of the minimum wage on the border must be stopped and in the rest of the country it would grow between 10 and 11 percent. He wants to say that the minimum will continue with important growth, but no longer as strong as we saw last six years,” he said in an interview this week.
According to Áfona’s forecasts, by the end of 2024 inflation will be around 4.2 to 4.4 percent and by 2025 it will be 3.7 percent. Which means that it will be controlled, Hernández anticipated. He added that companies do not necessarily apply the same minimum wage increase to contractual salaries, but such significant increases in past years forced companies to adjust their tables. “Although we have data on expected growth in the minimum wage, companies are not necessarily going to apply that increase to salaries,” he said. He explained that there was such a strong minimum increase that companies began to fall behind and had to give increases above what they had thought in order not to stay below the minimum wage and, in their case, be able to maintain that policy that they had to pay. above this indicator. In this sense, he said that at the beginning of the last six-year term, companies paid twice the minimum wage for the lowest levels. But now they have not managed to be at this level, but have remained 1.5 to 1.8 times higher than the minimum. The Aon specialist assured that companies’ expectations are always conservative with respect to salary increases and then they are adjusted. There are elements that companies evaluate such as the increase in the minimum wage and also external issues such as the result of the United States elections. “The result of the elections in the United States also has to do with the review of the T-MEC where we know that the treaty ensures that Mexico develops labor relations in a more robust environment regarding salaries and benefits for unionized personnel,” Hernandez explained.
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