What Is The Minimum Wage In Venezuela, What The Experiences Of Greece And Venezuela Teach Us About Minimum Wage Laws Foundation For Economic Education
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In january 2019 the minimum wage was increased to 18000 bolivars per month.
Minimum wage in california for employers. Most countries have a nation wide minimum wage that all workers must be paid. Detailed salary report based on career education experience gender age etc. 28 2019 in venezuela shows that a kilo of corn flour now costs 28000 bolivars in this oil rich country where the monthly minimum wage is now 40000 bolivars 200.
Median salary the median salary is 122000 ves per month which means that half 50 of the population are earning less than 122000 ves while the other half are earning more than 122000 ves. Average salary minimum wage mortgages. The minimum wage was raised from 4500 to 18000 bolivares equivalent to just 6 in the parallel unofficial market el pais reported tuesday.
Employers in venezuela who fail to pay the minimum wage may be subject to punishment by the government of venezuela. A christmas bonus aguinaldo from 15 days to 4 months pay and a vacation bonus are compulsory for all employees. A minimum wage in venezuela is less than 7 a month and average wage is less than 25 making the venezuelans that dont have foreign assets or income though theres a few million that do the poorest people in the world.
Venezuelas minimum wage is the lowest amount a worker can be legally paid for his work. Photo taken on aug. Venezuelas minimum wage was last changed in 1 nov 2016.
In 2019 the government of venezuela increased the statutory minimum wage three times. Average salary in venezuela is vef 479199 us 72116. Minimum wage schedules set pay by occupation.
Venezualas minimum wage is 27091 venezuelan bolivares bsf per monthwith a food bonus of 63720 bsf for all workers. Salaries in venezuela range from 33500 ves per month minimum salary to 591000 ves per month maximum average salary actual maximum is higher. The mimimum wage in venezuela is 250000 venezuelan bolivares per month.
In september 2019 it increased to 40000 bolivars per month and. There is also a minimum wage set for apprentices and pensioners.
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