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Venezuela Marks May Day with Min. Wage Hike

HeadlineMay 01, 2008

In Venezuela, President Hugo Chavez marked the eve of May Day by announcing a raise to the national minimum wage.

Venezuelan President Hugo Chavez: “Venezuela’s minimum wage, which was in second place in Latin America, moves to first place with $372 a month. It’s necessary that we all know this: the minimum wage in Venezuela is the highest in Latin America.”

Chavez also said he had signed a decree to nationalize Venezuela’s steel industry.

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