Mexico as a World Reference in Labor Achievements

Improvements in labor conditions in Mexico have made the country a global benchmark. President López Obrador intends to make further reforms to minimum wages and workers' pensions. In addition, considering the PISA 2022 results, there is a pressing need for a serious reevaluation of education policies in Mexico, agree experts.

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Mexico as a World Reference in Labor Achievements

López Obrador's labor changes have turned Mexico into a world reference in the dignification of working conditions, affirmed the Minister of Labor, Marath Bolaños. Among the main achievements are the constant increase in the minimum wage and the drop in the unemployment rate. The Minister added that the Youth for the Future program and the increase in vacation days have also been considered major milestones achieved by the government.

López Obrador Presents Two New Labor Reform Proposals

President López Obrador announced that he will propose two new reforms to benefit workers: increasing the minimum wage and improving pensions for retirees. The first reform he will propose is to ensure that the minimum wage grows above inflation so Mexicans can maintain purchasing power. The second reform aims to improve pensions so when people leave their jobs, they can receive amounts comparable to what they earned when they were working. 

PISA Examination Results Call for Education Reform

The recent release of the 2022 edition of the Program for International Student Assessment (PISA) has ignited a widespread debate among experts in the educational sector. Some, including President Andrés Manuel López Obrador, argue that this assessment should not be taken so seriously. Meanwhile, others consider that Mexico’s results reflect an educational crisis, particularly after the COVID-19 pandemic, potentially reverting progress made over the past two decades.

Nearshoring Will Bring New Jobs in 2024

Mexico is expected to increase its employment opportunities by 2024 thanks to new nearshoring opportunities. In 2024, foreign direct investment in Mexico is expected to range from US$40 billion to US$50 billion annually, reported Gabriel Casillas, Chief Economist for Latin America, Barclays. Nearshoring is anticipated to bring 495 new businesses to Mexico during the next two years, according to BBVA. Nevertheless, experts warn that as more companies come to the country, lack of talent will be the main challenge to take advantage of the nearshoring trend.