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Venezuela Raises Minimum Wage 30 Percent
The Associated Press
May 1, 2008

CARACAS, Venezuela - President Hugo Chavez is raising Venezuela's minimum wage by 30 percent as inflation continues to soar in the oil-producing nation.

The socialist leader has signed a decree that will fix the monthly minimum wage at $372 (239 euros), starting May 1, International Workers' Day. Chavez said the move will give Venezuela the highest minimum wage in Latin America.

All public employees' wages will also increase by 30 percent.

If food stamps are taken into account, Chavez says the minimum wage will actually reach $558 (euro359).

"There is no socialism without the working class," he said Wednesday.

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