Unemployment in Venezuela

Venezuela Unemployment | Economic News & Forecasts

Venezuela - Unemployment

Oil production continued to fall in June, confirming that the brief uptick observed in April was short-lived. What’s more, state-run oil firm PDVSA could now lose one of its most prized assets; a U.S. appeals court recently ruled that the Canadian mining company Crystallex may seize shares of Citgo, the U.S-based refiner, as compensation for the nationalization of a gold mine back in 2011. Meanwhile, another large-scale power blackout occurred on 22 July. Against this backdrop, the IMF now sees the Venezuelan economy contracting 35% this year due notably to the freefall in oil output. On the political front, talks between the government and opposition resumed in Barbados on 8 July, with the latest round starting on 1 August. Lastly, on 5 August President Trump announced a near-total economic embargo on Venezuela including the freezing of government assets in the U.S., amplifying the current crisis.

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

Bond Yield5.500.0 %Aug 19
Exchange Rate248,8320.0 %Aug 17
Stock Market25,7892.04 %Jul 31

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