The significance of watching Mexico’s minimum wage over time is two-fold. For businesses, the change gives managers an idea of what labor costs will be like. For workers, they now have an idea of how their wages will adjust over time. Together, the two give us an idea of the standard of living in the country.
However, for border economies we are interested in how the two sides compare. Granted there are significant wage differentials. But we now know that the Mexico administration has moved more quickly than the U.S. administration to implement minimum wage changes.
The graphic shows the evolution of the Mexican Minimum Wage over time. It was constructed using data from the Banco de Mexico, where the wage is reported by day. This graphic takes the daily rate x six days to get a weekly rate. The numbers are unadjusted and presented in Mexican pesos. More adjustments to come!
Hover the data point to see the year, daily rate, and weekly calculations. Use the slide to compress time and focus on a specific period of time.