Abstract

BONILLA GARCIA, Josué. Minimum Wage in Venezuela: Some General Considerations . Gaceta Laboral, Apr. 2009, vol.15, no.1, p.29-55. ISSN 1315-8597.

Decisions to increase the minimum wage (MW) move labor market foundations, disarranging their dynamic and formation. Starting in 1999, the National Government has assumed a policy of modifying minimum wage levels, decreed each year when Worker’s Day is celebrated. This policy, framed within the legal norm in effect, has been founded on basic indicators such as the cost of minimum food needs, minimum basic needs in general and on the consumer price index. This study is centered on identifying some useful aspects for analysis related to minimum wage increases in the Venezuelan labor market, with special emphasis on the 2005-2008 period. Its objective is to enrich the discussion in order to contribute to framing this type of policy in a coherent plan that combines specific measures to incentivize employment, productivity and exploit the comparative advantages of the country, which will translate into an improvement in quality of life levels for the population.

Keywords: Minimum wage; labor relations; employment; labor market; public policies.