Yusbell Arcaya used to earn more than seven times the
minimum wage as a human resources analyst at a university in western Venezuela,
but socialist President Nicolas Maduro’s economic reforms changed all that. Last
month, Maduro unexpectedly ordered a 60-fold increase in the minimum wage to
compensate for runaway inflation alongside a 96 percent devaluation of the
bolivar currency. That left employers across Venezuela struggling to afford the
new minimum wage, let alone the higher salaries once paid to more senior
employees. More… 
Friday, September 28, 2018
‘We all earn the same’: Venezuela minimum wage hike angers skilled workers
Yusbell Arcaya used to earn more than seven times the
minimum wage as a human resources analyst at a university in western Venezuela,
but socialist President Nicolas Maduro’s economic reforms changed all that. Last
month, Maduro unexpectedly ordered a 60-fold increase in the minimum wage to
compensate for runaway inflation alongside a 96 percent devaluation of the
bolivar currency. That left employers across Venezuela struggling to afford the
new minimum wage, let alone the higher salaries once paid to more senior
employees. More… 
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