Mexico: Wealth for the Oligarchy, Poverty for Millions
We hereby share an unofficial translation of an article published by the Mural Newspaper on the 20th of June.
They want to sell us on the idea that in Mexico “there are already jobs,” that “the economy is doing well,” and that “the minimum wage has risen like never before.” And yes, the minimum wage did go up in 2026 to 315 pesos a day, and to 440 pesos along the border. But the real question is: what can you actually afford with that? Because while the cost of food, rent, transportation, and utilities rises every month, millions of workers continue to live hand-to-mouth.
The reality faced by most working people doesn’t show up in official speeches. What does appear are doctored figures that attempt to hide unemployment, poverty, and job insecurity. For example, INEGI reported an “unemployment” rate of just 2.6% in October 2025. But when a broader methodology—recommended by the International Labor Organization—is applied, the actual unemployment rate rises to 10.1%, meaning more than 6.8 million people are out of work.
And why is that? Because the official figures only count those who are still actively looking for work. If a person has given up looking because no one will hire them, then they practically disappear from the statistics. This is how the illusion that “everything is going well” is created. Furthermore, more than 55% of the working population is employed in the informal sector. In other words: millions work without benefits, without job stability, without social security, and for meager wages. Many people do have jobs, yes, but jobs that don’t provide enough to live with dignity.
And while hunger, anxiety, and uncertainty grow among the masses, the oligarchy at the top is enjoying one of its greatest moments in history. In the first three months of 2026 alone, private banks operating in Mexico posted profits of 80,669 million pesos. Eight banks accounted for 84% of those profits. BBVA earned 23,553 million; Banorte, 12,166 million; Santander, 9,964 million; and Banamex, 6,883 million pesos. All this while millions of people struggle to survive, burdened by debt and paying absurd interest rates.
Grupo México, owned by Germán Larrea, increased its profits by 57% in the first quarter of 2026, reaching 1,710 million dollars. We’re talking about one of the country’s wealthiest companies obscenely increasing its profits while low wages, pollution, and labor exploitation persist in mining areas. Carlos Slim, for his part, saw his fortune rise to $125 billion in 2026. FEMSA (OXXO, COCA-COLA) reported revenue of 207,784 million pesos in just three months. Its net income reached 17,639 million pesos. Grupo Bimbo also increased its net profits by 32.3%, reaching 2,362 million pesos in the first quarter of 2026.
And therein lies the brutal contradiction of this capitalist system: while a minority accumulates billions of pesos and dollars, millions of workers toil harder than ever and still cannot escape poverty.
We’re told that “if business owners do well, the country does well.” But reality shows otherwise: the big banks and corporations have never made so much money, and at the same time, it has never been so difficult for millions of people to pay rent, buy food, or imagine a dignified future. Because there is wealth. What exists is a scandalous concentration of that wealth in the hands of a small oligarchy, while at the bottom, exploitation, unemployment, precariousness, and hunger are becoming the norm.
Because it is the workers, the poor peasants, the indigenous peoples, and the popular sectors who bear the burden of this unjust system on their shoulders. Only through organization and revolutionary struggle can we break the chains of exploitation and oppression imposed by bureaucratic capitalism.
