Unemployment rate ends at 7.3% in October
In absolute terms, this accounts for 989,227 jobless
In absolute terms, this accounts for 989,227 jobless. Last year, people out of work amounted to 1,113,631.
Last month, as many as 12,519,285 people had a job, 7,450,427 of which were employed in the formal sector whereas 5,068,858 were in the informal sector.
In a press release, INE president Elías Eljuri extolled a trend towards the consolidation of the sectors, which create most jobs and afford more stability for workers, taking into account the formal-informal labor ratio.
Translated by Conchita Delgado
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.