Reforms to Boost Mexico Wages is No Quick Fix Alexandra Alper and Pablo Garibian - Reuters
go to original August 5, 2013

MEXICO CITY - Mexicans hoping their president will make good on a campaign promise to boost wages may be in for a long wait, as the country aims to dodge Brazil's mistakes by betting on economic reforms that will take years to translate into labor gains.

President Enrique Pena Nieto came to office in December promising to boost productivity and raise low wages in Latin America's No. 2 economy, which have changed little in over a decade, averaging $21 a day in the formal sector.

A boost in wages would help consumption, which has been flagging since the money that Mexicans living abroad send home tapered, government spending slowed and U.S. demand for Mexican exports grew shaky.

... Pena Nieto is betting a host of ambitious economic reforms will translate into productivity gains that eventually boost salaries - just not right away.

Read the rest at Reuters

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