June 22, 2006
Venezuela: unemployment rate drops 2,4% in 2006

(Bolivarian News Agency) - "According to the Venezuelan National Statistics Institute (INE, Spanish acronym), there is a considerable reduction in the unemployment rate in Venezuela in relation to May 2005. There are 249,502 fewer unemployed people this year than in 2005.

The employment rate in Venezuela went from 10,162,349 people (87,4%) to 10,688,128 people (89.8%) in May 2006. This reflects a total growth of 525,779 thousand new jobs or 2.4 percent less in the unemployment rate.

This information can be found in INE's monthly report on labor force. It also reflects that the unemployment rate for May, 2006, stood at 10,2 percent (1,213,947).

In absolute terms, there was a reduction of 249,502 people if compared to the same month last year (12,6 percent).

According to a study made by INE's president, Elías Eljuri, this annual variation reflects that the projections of unemployment rate of 7 percent by the end of the year is reachable.

The analysis of the employed people reflects the adding of 525,779 people in the annual period. Therefore, the unemployment rate went from 87,4% (10,162,349 people) to 89,8% (10,688,128).

Nonetheless, the comparative study of April and May, 2006, shows a slight decrease in the employment rate among women".