SDG indicator 8.5.1: Average hourly earnings of employees in Venezuela
Venezuela: SDG indicator 8.5.1: Average hourly earnings of employees was 1,660 in 2017. ◆ Volatile
SDG indicator 8.5.1: Average hourly earnings of employees in Venezuela, 2005–2017
Source: International Labour Organization.
Analysis
In 2017, sdg indicator 8.5.1: average hourly earnings of employees in Venezuela stood at 1,660.
That represents a change of up 1,132.5% on the previous year and down 65.9% over ten years.
Over the whole period, sdg indicator 8.5.1: average hourly earnings of employees in Venezuela peaked at 4,866 in 2007 and was at its lowest, 6.47, in 2008.
Venezuela ranks 15th of 68 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
SDG indicator 8.5.1: Average hourly earnings of employees 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 | +26.6% |
| 2010 | 10.1 | +23.3% |
| 2011 | 12.6 | +24.8% |
| 2012 | 16.04 | +27.3% |
| 2016 | 134.69 | +739.7% |
| 2017 | 1,660 | +1132.5% |
Venezuela compared with similar countries
- Venezuela's 1,660 is above the median for lower middle income countries, which is 73.82, 22.5× the median. (17 countries reporting)
- Venezuela's 1,660 is above the median for Latin America & Caribbean, which is 122.32, 13.6× 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 |
Countries ranked near Venezuela
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 sdg indicator 8.5.1: average hourly earnings of employees in Venezuela?
- Sdg indicator 8.5.1: average hourly earnings of employees in Venezuela was 1,660 in 2017, according to International Labour Organization.
- What is the highest sdg indicator 8.5.1: average hourly earnings of employees recorded in Venezuela?
- The highest recorded value was 4,866 in 2007.
- What is the lowest sdg indicator 8.5.1: average hourly earnings of employees recorded in Venezuela?
- The lowest recorded value was 6.47 in 2008.
- How does Venezuela rank for sdg indicator 8.5.1: average hourly earnings of employees?
- Venezuela ranks 15th out of 68 countries with data for 2017.
- Is sdg indicator 8.5.1: average hourly earnings of employees rising or falling in Venezuela?
- Over the last ten years it is down 65.9%. 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 SDG indicator 8.5.1: Average hourly earnings of employees (previous ILO definition - ICLS13). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 10 observations, free to reuse under ILO Terms of Use (attribution required).
About this data
Data may differ from nationally reported figures and the Global SDG Indicators Database due to differences in sources and/or reference years. This indicator presents data by sex on employees' average hourly earnings. The concept of earnings, as applied in wage statistics, relates to 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 also disaggregated by occupation. Statistics on average hourly earnings by sex are the basis for the calculation of the gender pay gap. Data disaggregated by occupation are provided according to the latest version of the International Standard Classification of Occupations (ISCO). Data may have been regrouped from the national classifications, which may not be strictly compatible with ISCO. For more information, refer to the Labour Market-related SDG Indicators (ILOSDG) database description.