Venezuela's Min Wage Is Now $20

Venezuela's Min Wage Is Now $20

If we value that minimum wage at the more realistic black market exchange rate then it’s around $20 a month. Which for an oil rich nation is simply ridiculous. Or more importantly perhaps, that’s on a par with the minimum wage in Ethiopia. Which at least has the excuse of being a dirt poor country largely reliant upon subsistence peasantry to have an economy at all.

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