Mexico approves minimum wage hike

Mexico's National Minimum Wage Commission Conasami voted unanimously today to increase the countrywide general minimum wage by 3.9% to offset inflation and an additional 4 pesos, therefore increasing the daily minimum wage from 73.04 pesos to 80.04 pesos starting on January 1, 2017.

The commission's president, Basilio González, said that the additional increase was expected to take effect this year, but due to the economic climate in Mexico and abroad it was pushed back until next year.

He also said that the additional increase is not expected to affect the country's inflation rate or overall hiring practices.