Average hourly earnings of employees (Local currency) in Venezuela
Venezuela: Average hourly earnings of employees (Local currency) was 102.84 in 2020. ◆ Volatile
Average hourly earnings of employees in Venezuela, 2005–2020
Source: International Labour Organization.
Analysis
In 2020, average hourly earnings of employees in Venezuela stood at 102.84.
That represents a change of down 93.8% on the previous year and up 917.8% over ten years.
Over the whole period, average hourly earnings of employees in Venezuela peaked at 4,866 in 2007 and was at its lowest, 6.47, in 2008.
Venezuela ranks 30th of 73 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Average hourly earnings of employees (Local currency) in Venezuela, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 2,845 | — |
| 2006 | 3,699 | +30.0% |
| 2007 | 4,866 | +31.5% |
| 2008 | 6.47 | -99.9% |
| 2009 | 8.19 | +26.5% |
| 2010 | 10.1 | +23.4% |
| 2011 | 12.6 | +24.7% |
| 2012 | 16.04 | +27.3% |
| 2016 | 134.69 | +739.9% |
| 2017 | 1,660 | +1132.6% |
| 2020 | 102.84 | -93.8% |
Venezuela compared with similar countries
- Venezuela's 102.84 is above the median for lower middle income countries, which is 69.07, 1.5× the median. (18 countries reporting)
- Venezuela's 102.84 is above the median for Latin America & Caribbean, which is 64.83, 1.6× the median. (18 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2,285 | 6.47 | 4,866 | 5 |
| 2010s | 366.7 | 10.1 | 1,660 | 5 |
| 2020s | 102.84 | 102.84 | 102.84 | 1 |
Countries ranked near Venezuela
- 27 Pakistan 139.22 compare
- 28 Philippines 112.42 compare
- 29 Bhutan 104.72
- 31 Thailand 94.09 compare
- 32 India 91.72
- 33 Bangladesh 73.82 compare
More work & labour data for Venezuela
- Persons outside the labour force (ILO modelled estimates) 10,601 (2027)
- Labour force participation rate (ILO modelled estimates) 51.65 (2027)
- Labour force (ILO modelled estimates) 11,326 (2027)
- Unemployment rate (ILO modelled estimates) 5.73 (2027)
- Labour dependency ratio 1.69 (2027)
- Output per worker, GDP constant 2021 international $ at PPP 30,625 (2027)
- Output per worker, GDP constant 2015 US $ 10,899 (2027)
- Employment-to-population ratio (ILO modelled estimates) 48.69 (2027)
- Persons outside the labour force (ILO modelled estimates) (15+) 1.43 % change on previous year (2027)
- Labour force (ILO modelled estimates) (15+), annual growth rate 0.9762 % change on previous year (2027)
Frequently asked questions
- What is average hourly earnings of employees in Venezuela?
- Average hourly earnings of employees in Venezuela was 102.84 in 2020, according to International Labour Organization.
- What is the highest average hourly earnings of employees recorded in Venezuela?
- The highest recorded value was 4,866 in 2007.
- What is the lowest average hourly earnings of employees recorded in Venezuela?
- The lowest recorded value was 6.47 in 2008.
- How does Venezuela rank for average hourly earnings of employees?
- Venezuela ranks 30th out of 73 countries with data for 2020.
- Is average hourly earnings of employees rising or falling in Venezuela?
- Over the last ten years it is up 917.8%. The long-run trend across the full record is volatile.
- Where does this Venezuela data come from?
- The figures come from International Labour Organization, published as part of Average hourly earnings of employees (Local currency). Statizoid updates them automatically from the source API.
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About this data
With the aim of promoting international comparability, statistics presented on ILOSTAT are based on standard international definitions wherever feasible and may differ from official national figures. The earnings of employees relate to the gross remuneration in cash and in kind paid to employees, as a rule at regular intervals, for time worked or work done together with remuneration for time not worked, such as annual vacation, other type of paid leave or holidays. Earnings exclude employers' contributions in respect of their employees paid to social security and pension schemes and also the benefits received by employees under these schemes. Earnings also exclude severance and termination pay. Data are converted to U.S. dollars as the common currency, using exchange rates or using purchasing power parity (PPP) rates for private consumption expenditures. The latter series allows for international comparisons by taking account of the differences in relative prices between countries. For more information, refer to the Wages and Working Time Statistics (COND) database description.