R esolution published by CONASAMI regarding the increase in minimum wages applicable as of January 1, 2024

Today, the Official Gazette of the Federation published a resolution from the Council of Representatives of the Mexican Commission of Minimums Wages (“CONASAMI” by its acronym in Spanish) whereby the following modifications are informed, applicable as of January 1, 2024:

i) The general minimum wage will amount to $248.93 pesos per day (Two hundred and forty-eight pesos 93/100).

ii) The minimum wage on the Northern Cross Border (“ZLFN” by its acronym in Spanish) will amount to $374.89 pesos per day (Three hundred and seventy-four pesos 89/100).

It is noteworthy to mention that these increases to the minimum wage are entirely independent from the Unit of Measurement and Adjustment (“UMA” by its acronym in Spanish), which is used to determine the value for the compliance of certain obligation set forth in federal regulations. The value of the UMA for 2024 has not been updated by the National Institute of Statistics and Geography.

The resolution published by the CONASAMI should be considered in the context of salary revisions to Collective Bargaining Agreements. However, we recommend addressing such on a case-by-case basis.

For more information, please feel free to contact:

Francisco Peniche – francisco.peniche@creel.mx
Julio Álvarez – julio.alvarez@creel.mx