RIO DE JANEIRO, BRAZIL - On Monday, the Mexican government decided to increase the national minimum wage by 20 percent.
As of January 1st, the minimum wage will be 123.22 pesos per day, the equivalent of US$6.50.
Currently, the Mexican wage floor is 102.68 pesos.
Although the increase is well above Mexico's annual inflation rate of three percent, it is not enough to keep someone above the poverty line, although the national Constitution states that the minimum wage must be sufficient to support a worker and his or her family . . .