The cabinet agreed to raise the minimum wage to 675, 000 Lebanese pounds ( $450) during its meeting at the Baabda presidential palace .
The cabinet also agreed to raise wages ranging between 500,000 LL and 1 million LL by 200,000 LL and raise wages above 1 million by by 30 percent on condition that the increase is minimum 300,000 LL .
Earlier this month the minimum wage was raised by the cabinet to 600,000 LL, but the labor Union was not happy with the increase and called for a strike .
Update: General Workers Union chief Ghassan Ghosn called off the strike after reaching a compromise with the government over the issue of minimum wage increases , according to local reports. Ghosn called “historic ” the deal on wages that was agreed to today between the cabinet and the business community.