Median monthly earnings of employees in Venezuela, Bolivarian Republic of
Venezuela, Bolivarian Republic of: Median monthly earnings of employees was 250,000 in 2017. ◆ Volatile
Median monthly earnings of employees in Venezuela, Bolivarian Republic of, 2005–2017
Source: International Labour Organization.
Analysis
In 2017, median monthly earnings of employees in Venezuela, Bolivarian Republic of stood at 250,000.
That represents a change of up 1,288.9% on the previous year and down 65.3% over ten years.
Over the whole period, median monthly earnings of employees in Venezuela, Bolivarian Republic of peaked at 720,000 in 2007 and was at its lowest, 1,000, in 2008.
Venezuela, Bolivarian Republic of ranks 11th of 93 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Median monthly earnings of employees in Venezuela, Bolivarian Republic of, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 405,000 | — |
| 2006 | 520,000 | +28.4% |
| 2007 | 720,000 | +38.5% |
| 2008 | 1,000 | -99.9% |
| 2009 | 1,200 | +20.0% |
| 2010 | 1,600 | +33.3% |
| 2011 | 2,000 | +25.0% |
| 2012 | 2,500 | +25.0% |
| 2016 | 18,000 | +620.0% |
| 2017 | 250,000 | +1288.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 329,440 | 1,000 | 720,000 | 5 |
| 2010s | 54,820 | 1,600 | 250,000 | 5 |
Countries ranked near Venezuela, Bolivarian Republic of
More work & labour data for Venezuela, Bolivarian Republic of
- 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 median monthly earnings of employees in Venezuela, Bolivarian Republic of?
- Median monthly earnings of employees in Venezuela, Bolivarian Republic of was 250,000 in 2017, according to International Labour Organization.
- What is the highest median monthly earnings of employees recorded in Venezuela, Bolivarian Republic of?
- The highest recorded value was 720,000 in 2007.
- What is the lowest median monthly earnings of employees recorded in Venezuela, Bolivarian Republic of?
- The lowest recorded value was 1,000 in 2008.
- How does Venezuela, Bolivarian Republic of rank for median monthly earnings of employees?
- Venezuela, Bolivarian Republic of ranks 11th out of 93 countries with data for 2017.
- Is median monthly earnings of employees rising or falling in Venezuela, Bolivarian Republic of?
- Over the last ten years it is down 65.3%. The long-run trend across the full record is volatile.
- Where does this Venezuela, Bolivarian Republic of data come from?
- The figures come from International Labour Organization, published as part of Median monthly earnings of employees (15+). 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. The median is the middle value, with half of employees earning less and half earning more. For more information, refer to the Wages and Working Time Statistics (COND) database description.