Economic problems of Mexico
Brian D. Myers Mtz A01614382
Price of basic products
Salary and minimum salary
This year, the minimum wage in Mexico is stipulated at 248.93 pesos; However, in January the basic basket costs around 11,538.42 pesos.
“We evaluated 123 products in the basic basket, and 120 have shown an increase. Even if they are small increments of 10, 50 cents or one peso, all of this, accumulated, causes difficulties for people who receive a minimum wage,” declared Héctor Iván del Toro, research professor at the CUCEA Department of Economics. (Ramírez, 2024)
In Mexico the minimum wage in 2024 is 375 pesos per day at the border of the country, while in the rest of the country it is 250 pesos per day, this represents a big problem since compared to the United States, its minimum wage is approximately 7.25 dollars per HOUR. (De Los Salarios Mínimos, s. f.)
(De Los Salarios Mínimos, s. f.-b)
(Todos, 2018)
Percentage of poor population
Average home cost
The minimum cost per square meter to build an affordable home is 5 thousand pesos, although it depends a lot on the finishes, said engineer Oscar Montoya. In this way, if a person wants to build a house of 50 square meters, the total cost would be 250 thousand pesos. As of March 2022, at the national level, the average price of a home was 1 million 466 thousand pesos and the median price was 869 thousand pesos. (Federal, s.f.)
The latest reading of this indicator showed that in 2020, 43.9% of the population in Mexico, 55.7 million people, were in multidimensional poverty, and 8.5% were in extreme poverty, equivalent to 10.9 million people. The increase in the lack of access to health was what showed a significant jump that year, going from 16.2% of the population in 2018 to 28.2% in 2020.(Moy, 2022)
(Cuáles son las medidas promedio de una vivienda en México - la capital, s. f.)
(Mancilla, 2018)
Referencias
De Los Salarios Mínimos, C. N. (s. f.). Incremento a los salarios mínimos para 2024. gob.mx. https://www.gob.mx/conasami/articulos/incremento-a-los-salarios-minimos-para-2024?idiom=es
Cnnee. (2023, 25 diciembre). Aumento del salario mínimo en EE.UU. en 2024 (por estado): ¿Cuánto será la cantidad y cuándo entra en vigor? CNN. https://cnnespanol.cnn.com/2023/12/25/salario-minimo-estados-unidos-estado-cuanto-cuando-orix/#:~:text=Porque%20aunque%20el%20salario%20m%C3%ADnimo,%24%2015%2C00%20la%20hora.
Referencias
Ramírez, P. M. (2024b, enero 11). Pese al aumento en 2024, salario mínimo es insuficiente para cubrir canasta básica. Gaceta UDG. http://www.gaceta.udg.mx/pese-al-aumento-en-2024-salario-minimo-es-insuficiente-para-cubrir-canasta-basica/#:~:text=Este%20a%C3%B1o%2C%20el%20salario%20m%C3%ADnimo,la%20totalidad%20de%20los%20productos.
Todos, A. P. (2018b, marzo 2). Ya ni para la canasta básica alcanza en México. - Alimento para todos - medium. Medium. https://medium.com/@APT_mx/ya-ni-para-la-canasta-b%C3%A1sica-alcanza-en-m%C3%A9xico-303442f3cce8
The equivalent of 1.54 minimum wages would be required to acquire all of the products.
Referencias
De Chihuahua, M. Q. D. (2022, 30 agosto). Sólo 5% pueden comprar casa de $1 millón. El Diario. https://diario.mx/estado/solo-5-pueden-comprar-casa-de-1-millon-20220830-1966767.html
Federal, S. H. (s. f.-b). ÍNDICE SHF DE PRECIOS DE LA VIVIENDA EN MÉXICO, PRIMER TRIMESTRE d. . . gob.mx. https://www.gob.mx/shf/es/articulos/indice-shf-de-precios-de-la-vivienda-en-mexico-primer-trimestre-de-2022-301271#:~:text=A%20marzo%20de%202022%2C%20a,mediano%20de%20869%20mil%20pesos.
Cuáles son las medidas promedio de una vivienda en México - la capital. (s. f.). https://www.lacapital.com.mx/noticia/76134-Cuales_son_las_medidas_promedio_de_una_vivienda_en_Mexico
Referencias
Mancilla, A. S. (2018, 7 diciembre). La economía mundial funciona mal. CELAG. https://www.celag.org/la-economia-mundial-funciona-mal/
Moy, V. (2022, 22 febrero). Las cifras más recientes de pobreza. IMCO. https://imco.org.mx/las-cifras-mas-recientes-de-pobreza/
Forbes, I. (2023, 8 agosto). Los ricos de México: ¿Quién es rico? Forbes México. https://www.forbes.com.mx/los-ricos-de-mexico-quien-es-rico/#:~:text=Si%20hay%20unos%2087%20millones,de%20los%20mexicanos%20son%20ricos.
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Transcript
Economic problems of Mexico
Brian D. Myers Mtz A01614382
Price of basic products
Salary and minimum salary
This year, the minimum wage in Mexico is stipulated at 248.93 pesos; However, in January the basic basket costs around 11,538.42 pesos. “We evaluated 123 products in the basic basket, and 120 have shown an increase. Even if they are small increments of 10, 50 cents or one peso, all of this, accumulated, causes difficulties for people who receive a minimum wage,” declared Héctor Iván del Toro, research professor at the CUCEA Department of Economics. (Ramírez, 2024)
In Mexico the minimum wage in 2024 is 375 pesos per day at the border of the country, while in the rest of the country it is 250 pesos per day, this represents a big problem since compared to the United States, its minimum wage is approximately 7.25 dollars per HOUR. (De Los Salarios Mínimos, s. f.)
(De Los Salarios Mínimos, s. f.-b)
(Todos, 2018)
Percentage of poor population
Average home cost
The minimum cost per square meter to build an affordable home is 5 thousand pesos, although it depends a lot on the finishes, said engineer Oscar Montoya. In this way, if a person wants to build a house of 50 square meters, the total cost would be 250 thousand pesos. As of March 2022, at the national level, the average price of a home was 1 million 466 thousand pesos and the median price was 869 thousand pesos. (Federal, s.f.)
The latest reading of this indicator showed that in 2020, 43.9% of the population in Mexico, 55.7 million people, were in multidimensional poverty, and 8.5% were in extreme poverty, equivalent to 10.9 million people. The increase in the lack of access to health was what showed a significant jump that year, going from 16.2% of the population in 2018 to 28.2% in 2020.(Moy, 2022)
(Cuáles son las medidas promedio de una vivienda en México - la capital, s. f.)
(Mancilla, 2018)
Referencias
De Los Salarios Mínimos, C. N. (s. f.). Incremento a los salarios mínimos para 2024. gob.mx. https://www.gob.mx/conasami/articulos/incremento-a-los-salarios-minimos-para-2024?idiom=es
Cnnee. (2023, 25 diciembre). Aumento del salario mínimo en EE.UU. en 2024 (por estado): ¿Cuánto será la cantidad y cuándo entra en vigor? CNN. https://cnnespanol.cnn.com/2023/12/25/salario-minimo-estados-unidos-estado-cuanto-cuando-orix/#:~:text=Porque%20aunque%20el%20salario%20m%C3%ADnimo,%24%2015%2C00%20la%20hora.
Referencias
Ramírez, P. M. (2024b, enero 11). Pese al aumento en 2024, salario mínimo es insuficiente para cubrir canasta básica. Gaceta UDG. http://www.gaceta.udg.mx/pese-al-aumento-en-2024-salario-minimo-es-insuficiente-para-cubrir-canasta-basica/#:~:text=Este%20a%C3%B1o%2C%20el%20salario%20m%C3%ADnimo,la%20totalidad%20de%20los%20productos.
Todos, A. P. (2018b, marzo 2). Ya ni para la canasta básica alcanza en México. - Alimento para todos - medium. Medium. https://medium.com/@APT_mx/ya-ni-para-la-canasta-b%C3%A1sica-alcanza-en-m%C3%A9xico-303442f3cce8
The equivalent of 1.54 minimum wages would be required to acquire all of the products.
Referencias
De Chihuahua, M. Q. D. (2022, 30 agosto). Sólo 5% pueden comprar casa de $1 millón. El Diario. https://diario.mx/estado/solo-5-pueden-comprar-casa-de-1-millon-20220830-1966767.html
Federal, S. H. (s. f.-b). ÍNDICE SHF DE PRECIOS DE LA VIVIENDA EN MÉXICO, PRIMER TRIMESTRE d. . . gob.mx. https://www.gob.mx/shf/es/articulos/indice-shf-de-precios-de-la-vivienda-en-mexico-primer-trimestre-de-2022-301271#:~:text=A%20marzo%20de%202022%2C%20a,mediano%20de%20869%20mil%20pesos.
Cuáles son las medidas promedio de una vivienda en México - la capital. (s. f.). https://www.lacapital.com.mx/noticia/76134-Cuales_son_las_medidas_promedio_de_una_vivienda_en_Mexico
Referencias
Mancilla, A. S. (2018, 7 diciembre). La economía mundial funciona mal. CELAG. https://www.celag.org/la-economia-mundial-funciona-mal/
Moy, V. (2022, 22 febrero). Las cifras más recientes de pobreza. IMCO. https://imco.org.mx/las-cifras-mas-recientes-de-pobreza/
Forbes, I. (2023, 8 agosto). Los ricos de México: ¿Quién es rico? Forbes México. https://www.forbes.com.mx/los-ricos-de-mexico-quien-es-rico/#:~:text=Si%20hay%20unos%2087%20millones,de%20los%20mexicanos%20son%20ricos.