A trade union representative pointed out that the latest policies hurt a number of worker benefits and that businesses are the “major winners.” Caracas, May 2, 2023 (venezuelanalysis.com) – Venezuelan President Nicolás Maduro presented a number of labor-related measures during the traditional Workers’ Day march in Caracas. However, there was no minimum wage increase, with the amount remaining at the 130 BsD ($5.25 at the present exchange rate) set in March 2022. Nevertheless, trade union sources told Venezuelanalysis prior to May Day that an adjustment was not on the cards. The opposition-aligned Venezuelan Finance Observatory (OVF) measured an 8.3 percent economic contraction in the first trimester of 2023.