Unemployment, total (% of total labor force) in Venezuela, Bolivarian Republic of
Venezuela, Bolivarian Republic of: Unemployment, total (% of total labor force) was 7.5% in 2020. ▼ Falling
Unemployment, total (% of total labor force) in Venezuela, Bolivarian Republic of, 1975–2020
Source: Labour Force Statistics database (LFS), International Labour Organization (ILO).
Analysis
The most recent figure for unemployment, total (% of total labor force) in Venezuela, Bolivarian Republic of is 7.5%, measured in 2020.
That represents a change of up 49.2% on the previous year and up 5.8% over ten years.
Over the whole period, unemployment, total (% of total labor force) in Venezuela, Bolivarian Republic of peaked at 16.8% in 2003 and was at its lowest, 5.0%, in 1978.
Venezuela, Bolivarian Republic of ranks 60th of 187 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 32 years of available data.
Unemployment, total (% of total labor force) in Venezuela, Bolivarian Republic of, year by year
| Year | Value | Change |
|---|---|---|
| 1975 | 7.0% | — |
| 1976 | 6.3% | -9.6% |
| 1977 | 5.1% | -19.5% |
| 1978 | 5.0% | -2.5% |
| 1979 | 5.8% | +16.7% |
| 1980 | 5.9% | +1.4% |
| 1981 | 7.0% | +18.8% |
| 1982 | 8.1% | +15.1% |
| 1983 | 11.5% | +42.6% |
| 1984 | 12.9% | +11.9% |
| 1985 | 13.2% | +2.3% |
| 1986 | 10.9% | -16.9% |
| 1987 | 9.1% | -16.7% |
| 1988 | 7.3% | -20.0% |
| 1989 | 9.7% | +33.9% |
| 1990 | 14.0% | +43.3% |
| 1994 | 8.6% | -38.7% |
| 1995 | 10.2% | +19.6% |
| 2001 | 8.8% | -13.7% |
| 2002 | 16.2% | +83.1% |
| 2003 | 16.8% | +3.8% |
| 2005 | 10.7% | -36.5% |
| 2006 | 8.6% | -19.3% |
| 2007 | 7.3% | -15.4% |
| 2008 | 6.2% | -14.2% |
| 2009 | 6.1% | -2.4% |
| 2010 | 7.1% | +16.6% |
| 2011 | 6.9% | -3.0% |
| 2012 | 6.6% | -4.4% |
| 2016 | 5.3% | -19.4% |
| 2017 | 5.0% | -5.2% |
| 2020 | 7.5% | +49.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.9% | 5.0% | 7.0% | 5 |
| 1980s | 9.5% | 5.9% | 13.2% | 10 |
| 1990s | 10.9% | 8.6% | 14.0% | 3 |
| 2000s | 10.1% | 6.1% | 16.8% | 8 |
| 2010s | 6.2% | 5.0% | 7.1% | 5 |
| 2020s | 7.5% | 7.5% | 7.5% | 1 |
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 unemployment, total (% of total labor force) in Venezuela, Bolivarian Republic of?
- Unemployment, total (% of total labor force) in Venezuela, Bolivarian Republic of was 7.5% in 2020, according to Labour Force Statistics database (LFS), International Labour Organization (ILO).
- What is the highest unemployment, total (% of total labor force) recorded in Venezuela, Bolivarian Republic of?
- The highest recorded value was 16.8% in 2003.
- What is the lowest unemployment, total (% of total labor force) recorded in Venezuela, Bolivarian Republic of?
- The lowest recorded value was 5.0% in 1978.
- How does Venezuela, Bolivarian Republic of rank for unemployment, total (% of total labor force)?
- Venezuela, Bolivarian Republic of ranks 60th out of 187 countries with data for 2020.
- Is unemployment, total (% of total labor force) rising or falling in Venezuela, Bolivarian Republic of?
- Over the last ten years it is up 5.8%. The long-run trend across the full record is falling.
- Where does this Venezuela, Bolivarian Republic of data come from?
- The figures come from Labour Force Statistics database (LFS), International Labour Organization (ILO), published as part of Unemployment, total (% of total labor force) (national estimate). Statizoid updates them automatically from the source API.
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About this data
Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Definitions of labor force and unemployment differ by country.