Today: January 11, 2025
January 11, 2025
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Increase in the minimum wage will cost companies 194 million pesos per day: Conasami

Jared Laureles and Jessica Xantomila

La Jornada Newspaper
Saturday, January 11, 2025, p. 8

The 12 percent increase in the minimum wage for this year will have an impact of 194.6 million pesos per day on the costs of the country’s companies, estimated the National Minimum Wages Commission (Conasami).

In an analysis prepared with data from the Mexican Social Security Institute (IMSS) to measure only the effect in the formal sector, which is where this salary has a direct impact, the organization indicates that the aforementioned cost represents 1.4 percent of the daily wage bill. currently paid in most of the national territory and 2 percent in the northern border free zone (ZLFN).

With a total increase of 12 percent in the rest of the country, an additional 194.6 million pesos per day would be required to pay for the increase of those who earn below the new minimum wage.he calculated.

He explained that as a result of the salary increase, companies would pay an average of 21.26 pesos more per worker because many employees already earn close to the new remuneration.

Therefore, the 12 percent increase would actually represent 8.2 percent on average for companies, already discounting inflation, Conasami mentioned.

As of January 1, 2025, the minimum wage in the ZLFN went from 374.89 to 419.88 pesos per day, to stand at 12,596 pesos per month, while in the rest of Mexico it will be from 248.93 to 278.80 pesos per day, that is 8 thousand 364 pesos per month.

The economic sectors that will suffer the increase the most are agriculture, construction, and services for companies, individuals and the home, according to the document Proposal for setting general and professional minimum wages.

In this analysis, the commission indicated that the total labor cost due to the salary increase will be higher in microenterprises – which have one to five insured persons – of 6.4 percent and 8.4 percent in the ZLFN.

As for small companies, from six to 50 insured, the cost will be 3.1 percent and 5 percent in the ZLFN. While in the median, from 51 to 250 insured, it will be 1.4 and 2.6 percent on the border; in large companies, 251 or more insured, 0.4 percent.

Although the cost is higher for micro and small businesses, the proportion of total employment they generate is relatively low. In particular, in the ZLFN, six out of every 10 jobs occur in large companies, where the cost is less than 1 percent, he noted.

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