Venezuela to create 400 thousand new jobs in 2016


Caracas, 05 Abr. AVN.- Venezuela's Vice President for Planning and Knowledge, Ricardo Menendez said Monday that public and private sectors are expected to generate 406,000 new jobs throughout 2016.

In a press conference held at the seat of the planning ministry in Caracas, he said that of that amount, 241,000 jobs will come from the Venezuelan economy, while 164,290 will be "additional jobs that will emerge from the Bolivarian Economic Agenda."

He stressed that over the next few years it is estimated to create a combined total of 1.9 million jobs to meet the goal of 2.3 million proposed in the Plan of the Nation.

He said that in the first three years of development of this government program, approximately 540,000 jobs were created, which exceeds the figure estimated by the national executive.

"The original goal was to reach about 400,000 jobs in the first three years and however, we have managed to reach 540,000 jobs," he added.

Menendez noted that the unemployment rate closed in January this year at 8.1%, while in February it fell to 7.3%. He added that "the second lowest value of the series of the last 20 years" occurred during these two months.

He recalled that the employment and unemployment rates are seasonal values and have to be compared, for example, "every February with February of the previous year."

Thus, he noted that formal employment rated 60.2% in February, while the informal employment, which refers to companies whose payroll does not exceed five employees, approached 40%.

"When we talk about informality it does not necessarily mean that (people) are exempt from social protection nor they are figures of the informal economy. Of that 40% that we call it 'informal', it is about 18% that properly belongs to economy peddlers-type or properly conceived as informal," Menendez said.

The planning minister indicated that there are about 2.5 million public employees and an average of 5.5 million work in private companies in Venezuela.

Since 1999, more than 4,5 million new jobs were generated in the country, as part of the employment protection policies promoted by the Bolivarian Government.

"Since the beginning of the Bolivarian Revolution we have managed to halve the values of unemployment that existed in our country," he said.

05/04/2016 - 05:58 pm