On December 01, 2021, the Mexican Labor Ministry (“STPS”) and the Council of Representatives of the National Commission of Minimum Wages (“CONASAMI”) announced the following increases to minimum wages in Mexico, which shall apply starting as of January 1, 2022:
a) The general minimum wage will be MXN $172.87 (one hundred and seventy-two Mexican Pesos 87/100) per day; and
b) The minimum wage for the Northern cross-border region will be MXN $260.34 (Two hundred and sixty Mexican Pesos 34/100) per day.
The foregoing represents an increase of 22% with regards to minimum wages applicable for year 2021.
This resolution should be considered for salary revisions to collective bargaining agreements. However, we recommend analyzing each case on an independent basis.