Mexico will increase the minimum wage by 20% in 2023

(CNN) — The Government of Mexico announced this Thursday that the country’s minimum wage will increase by 20% from 2023.

As of January 1, the daily minimum wage will go from 172 Mexican pesos (US$9) to 207 Mexican pesos (US$10.82), announced the Minister of Labor, Luisa María Alcalde, during the government’s daily press conference in Mexico City.

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The agreement was reached unanimously between the Government, the labor sector and the business sector, said Mayor.