Formal employment declines in Venezuela
Generation of jobs concentrates in the tertiary sector, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO) reported
In the joint ECLAC-ILO report entitled "The Employment Situation in Latin America and the Caribbean," Venezuela ranks among the nations reporting a clear deceleration in the generation of jobs in general and, more specifically, in the formal sector.
Nevertheless, the report shows a slight trend towards more favorable results as it outlines that although the inter-annual variation of Venezuela's employment rate has been negative in the first two quarters of 2012, said rate was lower in the second quarter (0.1 percentage points) than in the first quarter (0.6 percentage points).
In general terms, the generation of employment concentrates in the tertiary sector.
In the case of Venezuela, the generation of jobs was directly related to communal, social, and personal services.
Translated by Jhean Cabrera
According to inner surveys performed by the Venezuelan Association of Metallurgical and Mining Industries (AIMM), where 160 metallurgic companies were taken into consideration, 90% of the companies members of this association are "distressed because of their existence or survival in the short term," stated Manuel Eseverri, president of this association.