Income and wealth in Mexico - Statistics & Facts
The minimum wages in Mexico have risen throughout the recent years, from 2023 to 2024, both official minimum wages increased by six percent. At the same time, some supplementary aids have proven beneficial, such as the Austerity initiative initiated in 2019, which aims to eradicate excessive compensations for government employees implicated in corruption allegations. Furthermore, there are 14 unrestricted international trade agreements in place, alongside a Free Zone along the Mexican border with the United States of America. This zone boasts the highest daily salary compared to the rest of federal entities. The primary objective behind this strategy is to stimulate commerce, international trade, tourism, and encourage people to stay in the country.
There is a polarized balance in the regional income distribution, experiencing higher wages in the northern states and lower wages in the South and Center regions, with the only exception of Mexico City. The number of children per household and the gender of the household head also play a significant role in income disparities. Women, especially those with four or more children, face additional challenges and tend to experience lower income levels and higher vulnerability rates. This trend of women earning less income can be observed constantly across various vulnerable groups and categories.
Income inequality
Among the affected groups by income inequality, both the younger and older working populations experience wage gaps. While in occupational sectors, the agricultural field has the lowest monthly salaries among industries, while professions in the extractive and governmental sectors tend to be the highest paid. Moreover, there’s a clear correlation between the number of schooling years and the level of income in Mexico. As of 2023, the workers with over 18 years of education received a significantly higher average wage than those with less.There is a polarized balance in the regional income distribution, experiencing higher wages in the northern states and lower wages in the South and Center regions, with the only exception of Mexico City. The number of children per household and the gender of the household head also play a significant role in income disparities. Women, especially those with four or more children, face additional challenges and tend to experience lower income levels and higher vulnerability rates. This trend of women earning less income can be observed constantly across various vulnerable groups and categories.
