Minimum wage in Mexico info is here. If you are looking for the answer to the question of what is the minimum wage in Mexico for Mexico, a beautiful and interesting country located in North America, you are at the right place. Mexico, which has high crime rates and corruption, is still among the developing economies in the world. There are many people who immigrate to work in the country, which has shown great development especially in the field of tourism. In this article, I will try to answer the frequently asked question of what’s the minimum wage in Mexico and give information about the average income in Mexico.
Minimum wage for Mexico 2023
Average salary in Mexico, approximately 172.87 Mexican pesos per day as of January 01, 2023, according to the latest data from the Department of Labor. The daily minimum wage mexico amount in dollars is approximately 8.5 dollars. Due to the high inflation in Mexico, the minimum wage of mexico is usually updated and increased annually.
|Mexico salary average per a day||170-210 mexican pesos|
|Minimum wage in Mexico in us dollars per a day||8-9 dollars|
According to the latest data, the population of Mexico is about 131 million. Despite the large population in the country, the unemployment rate is low. Unemployment rate varies between 3-5% in the country. The capital of the country is Mexico City. The largest number of employees is in the capital. There are many languages spoken in the country. However, 68% of the population speaks Spanish.
Average salary in Mexico in us dollars
Mexican minimum wage is around 8-9 dollars per day in dollars. As we mentioned in detail above under the title of what is minimum wage in mexico, inflation rates are high in Mexico. The exchange rate of the Mexican peso against the dollar can fluctuate. For this reason, we cannot say exactly how many dollars the Mexican minimum wage is.
Mexican average salary
Average wage in Mexico varies between 460-500 pesos per day, according to the latest data. So the average salary mexico is in the range of 20-25 dollars per day. According to this calculation, the average income mexico for workers averages 10,250.5 pesos ($505) per month in 2023, and around 125,000 pesos (about $6000) annually.
According to the data of Mexico’s National Statistical Institute, the rate of high income earners in the country is only 0.5%. The average income of these people in the high-income group is 75000 pesos per month, or around 3700 dollars. The average income of Mexico in metropolitan areas varies between 8000-12000 pesos (395-590) dollars.
As a result, the average Mexican salary ranges from $450 to $550 for minimum wage workers. Average salaries for doctors and teachers in the higher income group start from $2000-2500 and can reach an average of $3500-4000 per month.