Real wages have dropped more than eight percent in Venezuela (ILO, CEPAL) [View All]

While the government is not worried about increased unemployment this year, the preliminary results of a survey carried out by the Economic Commission for Latin America and the Caribbean (Eclac) and the International Labor Organization (ILO) show that the jobless rate in Venezuela is above the Latin American average.

Venezuela's unemployment rate stood at 9.2 percent in the first quarter of the year, while the jobless rate in the region was 7.4 percent. There were only two other countries that exceeded the average in the region during that period: Colombia (13.4 percent) and Peru (9.4% percent).

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The Eclac and the ILO also warned that real wages dropped more than eight percent in Venezuela in the first quarter, compared to the same period in 2010.



http://english.eluniversal.com/2011/06/15/unemployment-in-venezuela-among-the-highest-in-the-region.shtml