For two consecutive years, Mexican President Claudia Sheinbaum has pointed to reductions in extreme poverty to argue that Mexicans are better off today than they were in 2018. But a more holistic look at the available socioeconomic data casts doubt on that rosy picture.
MEXICO CITY—One year ago, Mexican President Claudia Sheinbaum used her first state-of-the-nation address to offer a confident verdict on the “Fourth Transformation” that began under her mentor, Andrés Manuel López Obrador (widely known as “AMLO”). Mexicans are doing better economically, she claimed, citing a decline in the poverty rate from 41.9% in 2018 to 29.5%, a cumulative 135% real (inflation-adjusted) increase in the minimum wage, and a welfare state whose benefits were reaching 32 million of Mexico’s 133 million people.
MEXICO CITY—One year ago, Mexican President Claudia Sheinbaum used her first state-of-the-nation address to offer a confident verdict on the “Fourth Transformation” that began under her mentor, Andrés Manuel López Obrador (widely known as “AMLO”). Mexicans are doing better economically, she claimed, citing a decline in the poverty rate from 41.9% in 2018 to 29.5%, a cumulative 135% real (inflation-adjusted) increase in the minimum wage, and a welfare state whose benefits were reaching 32 million of Mexico’s 133 million people.