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INE: Unemployment rate at 7.3% in March

The President of the National Statistics Institute (INE), Elías Eljuri, announced that despite the global economic crisis, the unemployment rate continues to fall in Venezuela.  It declined from 14.6% in March of 1999 to 7.3% in March of 2009, the lowest rate since the beginning of monthly measurements.

According to an INE press release, the employment rate in March 2009 was at 92.7% (11,874,454 people), while in March of 2008 it was 92.4% (11,593,206 people).  This is an increase of 282,248 jobs.

6,635,325 people were employed in the formal sector in March 2009, while during the same period in 2008, 6,441,200 were employed—an increase of 194,125 people.

Using a series of graphs, the INE presented the unemployment rates of several countries between March 2008 and March 2009. In the United States, unemployment rose from 5% to 8.5%, while in Spain, it rose from 11.7% to 15.5%; these figures reflect the magnitude of the economic crisis in those countries.  On the other hand, Venezuela and Uruguay experienced a reduction in unemployment during the same time period.

On a different topic, the press release noted that the March 2009 Household Survey reached 6,139 houses and 18,414 people aged 15 or older.  This survey took place between March 2nd, 2009, and March 29th, 2009.

This survey is conducted throughout the entire country, with the exception of collectives (such as hotels, jails, hospitals, barracks, etc.), towns with less than 10 homes, federal dependencies and indigenous communities in the jungle.

Agencia Bolivariana de Noticias (ABN), Embassy of the Bolivarian Republic of Venezuela Press Office / April 15, 2009

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