Venezuela, a failing socialist state, has gifted its people with the sixth minimum wage hike in one year. The 150% increase last week won’t help too much because inflation is up to 1.7 million percent.
Yes, you read that correctly.
Minimum wage hikes don’t help when your currency isn’t worth the cost of the paper it’s printed on. That’s literally true in Venezuela, which has tried switching to an even more worthless cryptocurrency.