Unemployment in Venezuela

Venezuela Unemployment | Economic News & Forecasts

Venezuela - Unemployment

The economy remains in dire shape. According to the opposition-controlled congress, the economy contracted 12% year-on-year in the first quarter on the back of falling oil output—a reflection of years of chronic underinvestment and mismanagement in the all-important industry. In June, oil production slipped to a new multi-year low while the number of active oil rigs dropped to the lowest level in over 15 years, pointing to further declines in output. Moreover, the bolivar continued to tumble in both the official and parallel markets in July, further feeding into spiraling inflation. In late July, President Nicolás Maduro announced his first set of economic measures that seek to contain hyperinflation and stabilize the free-falling bolivar, which include a monetary reconversion and potential loosening of currency controls. The details of how these policies would be implemented, however, remain unknown.

Venezuela - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate7.5  7.0  6.8  -     -     

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Venezuela Unemployment Chart


Venezuela Unemployment
Note: Unemployment in % of active population.
Source: National Statistical Institute.

Venezuela Facts

ValueChangeDate
Bond Yield5.500.0 %Aug 19
Exchange Rate207,3600.0 %Aug 07
Stock Market113,1572.04 %Aug 07

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