Monterrey, NL. Los formal sector wages have registered increases above the inflation rate this year, benefiting all economic agents in the country, said an analysis by the Employers’ Confederation of the Mexican Republic (coparmex) New Lion.
The daily salary integrated had an increase of 28.3% between 2019 and 2022, while the collection of Income Tax (ISR) for Salary Withholding rose 30.2% and private consumption had an increase of 2.9 percent.
This is indicated by an analysis carried out by Coparmex Nuevo Leonwith data from the Mexican Institute of Social Security (IMSS), the Ministry of Labor and Social Welfare (STPS) and the National Institute of Statistics and Geography (Inegi).
The collection of Income Tax (ISR), due to withholding of wages, from January to last September increased 30.2%, compared to the same period in 2019.
The increase is mainly due to the 28.3% increase in the integrated daily salary of workers insured at the IMSS, in the same period.
On the other hand, the private consumption In the country’s domestic market, it has not only recovered the levels of 2019 but has exceeded them, since the indicator registers an increase of 2.9 percent.
Los trade incomeaccording to the indicator estimated by Inegi, show an increase of 8.4%, in the same period; while formal employment in the same period, from 2019 to date, has grown 3.3 percent.
The daily salary of workers insured in the IMSS this year has reached annual increases that exceed 10%. In October it was 11.1% annually at the national level, compared to the inflation rate that in October was 8.4% annually, according to Inegi.
Cecilia Carrillo López, director of Coparmex Nuevo Leonstressed that it is undeniable that the labor market this 2022 has been dynamic, which has generated an increase in wages.
“On the other hand, we must recognize the high social responsibility of the employer sector for its awareness of supporting the purchasing power of its workers,” he added.
In the third quarter of the year, the pace of the Mexican economy accelerated, thanks to the drive of the tertiary sector, and that is very good, he explained, because it means more jobs and better salaries.
“Salary increases can only derive from increases in productivity. As the supply of jobs grows, so will wages,” he added.
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