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
A group of some 60 Venezuelan economists from across the country and from different generations and backgrounds, has met regularly in the past couple of years and now has brought forth a document explaining the reasons of the current emergency and outlining specific proposals on how to address the serious economic crisis the country has plunged into over the last three years.