Venezuela’s interim president, Delcy Rodríguez, announced a minimum wage increase to $240 for both the public and private sectors.

She also announced an increase in the monthly pension payment, which will now be $70.

La presidenta encargada, Delcy Rodriguez anuncio este jueves #30Abril el aumento del ingreso mínimo integral.

🗣️ "Yo quiero hacer algunos anuncios. El ingreso mínimo integral alcanzará los 240 dólares".

📹 @VTVcanal8 pic.twitter.com/kSdqoKUrFF

— El Universal (@ElUniversal) April 30, 2026

These announcements were made during a rally convened by Rodríguez on Thursday in Caracas. However, details regarding the distribution of this monthly payment are not yet available.

As is currently known, the minimum wage for workers includes a food allowance (cestaticket) of $40 and a war bonus, which for active employees is $150.

This news is still developing, so other monetary allowances may be updated in the coming hours or tomorrow, May 1st, International Workers’ Day.

 

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This Wednesday, April 8th, Venezuela’s interim president, Delcy Rodríguez, announced a salary increase effective May 1st, International Workers’ Day.

 

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Una publicación compartida por Diario Notitarde (@diarionotitarde)

She also highlighted the creation of a labor dialogue commission to address the issue, which has fueled widespread protests in the country.

Rodríguez did not provide details about the salary increase, so it is unclear whether it refers to the minimum monthly wage or the bonuses currently paid to workers.

The interim president indicated that the salary increase effective May 1st will be “responsible.”

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Salaries in Spain will rise by around 5 % in 2026, according to projections published by Randstad Research, Randstad’s research center.

According to the study, the projections are based on data on compensation in eight geographic locations: Madrid, Barcelona, ​​Seville, Valencia, A Coruña, Málaga, Bilbao, and Zaragoza. These statistics identify “salary ranges for almost 400 relevant positions in fourteen sectors and professional areas.”

Miguel Mercado, National Director of Randstad Professional, stated that “the changes affecting the Spanish economy and labor market during 2025, particularly the talent shortage and inflation, have led to greater dynamism in salary trends, and we estimate an average salary increase of around 5 % for next year.”

During 2025, the Spanish labor market has shown signs of stabilization after a period of high uncertainty. Furthermore, inflation has moderated, but “the cumulative effects of geopolitical tensions, the rising cost of living, and the slowdown in European growth continue to influence the economy’s performance.”

However, significant challenges remain related to the technological transformation driven by AI, as well as advanced automation and the digitalization of production processes.

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With the approval of the Pension Law by the National Assembly of Venezuela, private companies are analyzing whether the new fee they must contribute will disrupt the possible salary increases planned for this year.

The new Pension Law came into effect on Friday, May 10, according to Official Gazette No. 6,806. In its article 7 it establishes that “private legal entities, domiciled or not in the country, must make a special contribution that will be up to 15 % of the total payments made to workers, for salary and bonuses. non-salary character.”

Financial analysts consider that the payment imposed on companies could force a restructuring of the incentives they had planned for the coming months.

In the opinion of Héctor Orochena, a graduate in Fiscal Sciences: “Legal regulations can affect the salary increases that the private sector has planned for this year. The law establishes that this special contribution be paid, taking into account anything paid to the worker, whether salary or not. For example, if the company pays for the school fees of workers’ children or provides a school bonus, it may now reconsider not paying it. Employers will take this law into account to determine the vacation and year-end bonuses, remunerations that have no impact on the salary, but are now included in the tax base.”

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The president of Venezuela, Nicolás Maduro, announced this May 1 that he will hand over the Banco Bicentenario to the workers, which will also become the first digital entity in the history of the country.

In this regard, Maduro indicated: “A lot of work has been done to convert Banco Bicentenario into the first digital bank in the history of the country, it will be the digital bank of the working class. I give it to the workers to generate microcredits, loans, entrepreneurship, financial support, cards….”.

#Anuncio El presidente @NicolasMaduro informó que el Banco Bicentenario se convertirá en la primera entidad financiera digital de la historia del país. “Será el banco digital de la clase obrera”, y “se lo entrego a los trabajadores para generar microcréditos, préstamos, apoyo… pic.twitter.com/J7zmu0mVnq

— Prensa Presidencial (@PresidencialVen) May 1, 2024

Minimum comprehensive indexed income goes from 100 to 130 dollars

The announcement about Banco Bicentenario was made within the framework of the activities for International Workers’ Day. Regarding the expected salary increase of unions and other labor organizations, which have proposed that it be 200 dollars, the president indicated that the indexed minimum income goes from 100 to 130 dollars per month.

At the moment it is not known if the increase will occur through the Economic War bonus that is paid through the Patria platform, or through an increase in the Food Bonus, which companies pay monthly to their employees.

#Noticia El presidente @NicolasMaduro anunció el incremento del ingreso mínimo integral de los trabajadores a 130 dólares, “el mínimo, y que impacte crecientemente en la capacidad de los trabajadores, quiere decir, que este año, de enero a mayo, hemos impactado el 86% el ingreso… pic.twitter.com/TahYOl0a7V

— Prensa Presidencial (@PresidencialVen) May 1, 2024

Signing of the Housing Law

During the May 1 events, Maduro also signed the Law on the Housing and Habitat Provision Regime for Workers, a legal instrument that “guarantees more direct access for the worker to the allocation of housing.”

In relation to the issue, the president raised the goal of building two million more homes with the purpose of achieving seven million decent roofs and “putting organized workers, the working class, the CPT (Workers’ Productive Councils)”.

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Venezuela’s labor sector remains waiting for the salary increase on May 1. In this regard, economist Asdrúbal Oliveros, director of Ecoanalítica, declared this Wednesday that this could happen through bonuses.

He indicated that in the midst of the campaign for the presidential elections on July 28, the Venezuelan government could show greater capacity to assume a salary increase for workers and pensioners, who are also on the minimum monthly income scale.

However, he made it clear that “the Maduro administration has rigidities due to the Labor Law that makes salary increases extremely expensive for everyone, including the Venezuelan State.”

According to Oliveros, during the four months of the presidential campaign, the government will authorize more bonuses through the Patria System, “putting more money on the street and generating an important stimulus for these months.”

The economist warned that a salary increase “as a legal concept in the public and private sector” requires a discussion of change on the Labor Law.

Double-digit economic growth

The specialist explained that double-digit economic growth is expected in Venezuela this year, accompanied by greater dynamism in some sectors of the economy. But he specified that “due to the current complex context, a shorter electoral campaign and the threat of sanctions from the United States, it is estimated that this year’s economic performance will be limited.”

“We expect a moderate economic growth of 4 %, which for an economy like the Venezuelan one needs to be larger and more permanent, since this does not ensure that the majority of the population is reflected in the context of growth,” Oliveros specified.

A modification in the United States sanctions against Venezuela, maintaining the operation of companies like Chevron, could allow a growth of 4 %. If sanctions become more serious, growth would be close to zero.

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At the end of this year, good news appears for the workers of Uruguay, where the Ministry of Labor announced an increase in the minimum wage starting January 1, 2024 of 5.5 %.

According to the announcement this week by Minister Pablo Mieres, workers will earn 22,268 pesos (about $550), which places the fee above the estimated inflation.

Mieres announced the news during a new session of the Tripartite Superior Council, the coordination and governance body for labor relations.

During his participation in this session, the official also highlighted the “decision of said Council to create a working group to seek an improvement in productivity”, considered a crucial variable for Uruguay.

“The country, to continue growing both in wages and employment, has to achieve an improvement in productivity and both parties, both workers and employers, shared with us the idea of ​​creating this working group,” said Mieres.

This working group will begin its functions in February 2024 focused on “finding paths for agreements that allow us to improve not only labor productivity, but also the general productivity of the Uruguayan economy.”

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Brazil will guarantee the permanent increase in the minimum wage starting in 2024 according to the new law sanctioned this Monday by President Luiz Inácio Lula da Silva.

The law, which was previously approved by Congress, also establishes the exemption for individuals from paying income tax.

Luiz Marinho, Minister of Labor, “stated in the act that the new minimum wage revaluation policy will directly impact some 25 million people, including workers and pensioners, and will stimulate the country’s economic activity.”

The measure that will guarantee the permanent increase in the salary of Brazilians starting next year, and which is currently 1,320 reais per month, is based on two main factors: annual inflation and the positive variation of the gross domestic product (GDP).

It is important to note that there may be variations regarding the way in which the salary increase is decided in the event that the country’s GDP is negative. In this case, “the minimum wage will only increase based on the consumer price index.”

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The Government of Chile, through the Ministry of Labor and Social Welfare and the Ministry of Finance, has reached an agreement with the Workers Central Union (CUT in Spanish) of Chile, the largest trade union organization in the country, to raise the minimum wage to 440,000 Chilean pesos (about 503 euros) next May.

In turn, as reported by the Government on Monday, a new increase of 20,000 pesos (22.87 euros) will be applied in September, which would raise the final figure to 460,000 pesos (525.99 euros), and another increase of 40,000 pesos (45.73) in July 2024, to place the total amount at 500,000 pesos (571.7 euros).

During the negotiations that began last March, the union had demanded that the Government reach the figure of 500,000 pesos already this May, due to the “high” inflation that is taking place in Chile. This goal must be achieved as soon as possible, we cannot wait,” said the president of the union, David Acuña.

This amount, however, was the goal of the cabinet chaired by Gabriel Boric for the year 2026, at the end of his term. Despite their intention of a greater increase, from the Government, they had considered that it was necessary to reach a balance between the demand of the unions and the capacity of small and medium-sized companies to pay wages.

Last January an initial increase of 50,000 pesos (58.2 euros) was carried out, to which another 10,000 pesos (11.39 euros) were added, thus reaching 410,000 pesos (about 477 euros).

From the CUT they have celebrated that the talks to advance the arrival of the 500,000 pesos are advancing, as part of their “commitment” in the search to overcome the poverty line and create social policies that deliver “a good life” to workers.

Source: dpa

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Wage growth in the coming quarters will be “very strong” compared to historical patterns in the eurozone, according to economists from the European Central Bank (ECB) in an article in the latest bulletin of the institution. In the document, they also point out the “substantial” loss of purchasing power of consumers due to the impact of inflation and that it will continue to fall in the future, thus encouraging demands for wage increases by unions.

They believe that the upward pressures on wages reflect robust labor markets, which have so far not been greatly affected by the economic slowdown, as well as increases in national minimum wages and some wage recovery from high rates of inflation.

However, they point out that, beyond the short term, the economic slowdown expected for the eurozone and uncertainty about the economic outlook for the region are likely to “put downward pressure on wage growth.”

At its meeting last December, the Governing Council of the ECB decided to raise its three key interest rates by 50 basis points, so that the reference rate for its refinancing operations stood at 2.50 %, while the deposit rate reached 2 % and the loan facility rate 2.75 %.

Likewise, the president of the ECB, Christine Lagarde, warned that based on the available data, rate hikes should be expected “at a rate of 50 basis points over a period of time”, because inflation remains too high and is expected to remain above the 2 % target.

Source: dpa

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