ESPACIO PUBLICITARIO
CARACAS, Friday January 18, 2013 | Update
 
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JOBLESS | At 5.9%

Unemployment hits 806,496 Venezuelans in December

Somewhat over half of labor force last month worked in the formal sector of economy

Unemployment rate in Venezuela lowered a little bit (File photo)
YANETH FERNÁNDEZ |  EL UNIVERSAL
Friday January 18, 2013  01:45 PM
Unemployment rate in Venezuela stood at 5.9% in December, a 0.7% slump below the same term in 2011, based on a report on labor prepared by the National Statistics Institute (INE).

In absolute terms, this means 806,496 jobless last month. In December 2011, unemployment rate stood at 6.5%, that is, 885,149 people.

Last month featured 12,932,816 people with a job, including 7,503,251, or 58% in the formal sector of economy. The remainder -5,428,791- works on their own or as street vendors.

In the meantime, unemployment in December accounted for 35.5%, which is tantamount to 7,577,545 people. Such profile pools the individuals who opted to study, or engaged in housekeeping, or claimed to be unable to work.
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Is protest over?

That political protest in Venezuela has lost momentum seems pretty obvious: people are no longer building barricades to block off streets near Plaza Francia in Altamira (eastern Caracas), an anti-government stronghold; no new images have been shown of brave and dashing protesters with bandanna-covered faces clashing with the National Guard in San Cristóbal, in the western state of Táchira; and those who dreamed of a horde of "Gochos" (Tachirans) descending  in an avalanche to stir up revolt in Caracas have been left with no option but to wake up to reality.

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