This Monday, March 9, the executive secretary of the Venezuelan Confederation of Workers, Tito Blanco, declared that the labor union will propose a minimum wage of $200 to the government, with the aim of increasing it to $450 per month.

Blanco stated: “We are conducting the relevant economic studies with our advisors in order to present a proposal to the government regarding what we believe should be the minimum wage.”

He clarified that the amount of the proposed salary increase will depend on the calculations made, while also mentioning the potential inflow of approximately $37 billion into the country this year.

Blanco emphasized the availability of “sufficient resources to begin a process of restoring the value of work through the minimum wage,” clarifying the term “minimum wage” because “it encompasses a number of salary components such as social benefits, profit sharing, vacation pay, and night shift bonuses established by law.”

He pointed out that it is necessary to reconstruct the minimum wage, which is very different from income, as has been the current practice, in order to give work its due value.

M.Pino

Source: eldiariodeguayana

(Reference image source: Igal Ness on Unsplash)

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La entrada CTV proposes a minimum wage in Venezuela starting at $200 and increasing to $450 apareció primero en Bitfinance.

During the Fourth Tripartite Social Dialogue Forum, a new “method for setting the minimum wage and a schedule for its setting” was approved, as announced by the Confederation of Workers of Venezuela.

As indicated by CTV in its account on X, “this is a joint effort between the organization and the Independent Trade Union Alliance (ASI) to achieve an increase in the minimum wage of workers, which “should not be below 200 dollars per month.”

“Recurrent tax revenues allow this amount to be established without inflationary effects,” highlighted the CTV and added that the increase is the absolute responsibility of the National Executive.

It is important to remember that the minimum monthly income of public sector workers in Venezuela is 130 bolivars, to which are added government bonuses that have no impact on the calculation of annual benefits.

M.Pino

Source: primeraedicion

(Reference image source: @noticierovv, X)

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La entrada The CTV announced a new method for setting the minimum wage in Venezuela apareció primero en Bitfinance.