Unemployment in Venezuela

Venezuela Unemployment | Economic News & Forecasts

Venezuela - Unemployment

Economic conditions remain bleak in H2: Oil output in September inched up marginally from August, but remained close to June’s near 80-year low. Moreover, the U.S. announced further sanctions on previously permitted oil-for-fuel swap deals in early November, with the move set to exacerbate already chronic gasoline shortages. Consequently, crude inventories are likely to swell, and, with few export destinations available, production could be cut further as a response. In politics, embattled opposition leader Juan Guaidó received further bad news—following last month’s UK court judgement rejecting his claim for control over USD 1.0 billion of gold held by the Bank of England—after a U.S. judge ruled PDVSA 2020 bonds are valid and enforceable, dismissing his claims the bonds were fraudulently issued without National Assembly approval. This comes amid the fraught run-up to December’s parliamentary elections.

Venezuela - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate6.8  7.3  7.2  6.9  -     

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Venezuela Unemployment Chart

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

Venezuela Facts

Value Change Date
Bond Yield5.500.0 %Aug 19
Exchange Rate248,8320.0 %Aug 17

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