Business representatives argued that the timing is not good Published on Thursday, December 17, 2020 68shares Mexico’s daily minimum wage will increase 15% to 141.7 pesos (US $7.15) on January 1 after the National Minimum Wage Commission (Conasami) approved the hike on Wednesday. Members of the federal government and the labor sector voted in favor of increasing the daily wage 18.5 pesos (US $0.93) from its current level of 123.2 but business sector representatives opposed the hike. The daily minimum wage will also increase 15% in the northern border free zone, rising to 213.4 pesos (US $10.76) from 185.6. Approval of the increase came a week after President López Obrador described the current minimum wage as an “embarrassment” and recommended raising it at least 15%. The new hike follows a 20% increase at the start of this year and a 16% rise at the beginning of 2019. In just over two weeks, the daily wage will be 60% higher than when López Obrador took office in late 2018.