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The Active Population in Figures

201820192020
Labour Force 12,595,51711,996,39611,063,628

Source: International Labour Organization, ILOSTAT database

 
201720182019
Total activity rate 65.62%64.68%62.51%
Men activity rate 80.63%80.22%79.21%
Women activity rate 51.00%49.63%46.40%

Source: International Labour Organization, ILOSTAT database

 

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Working Conditions

Legal Weekly Duration
44 hours in the public sector, 48 in the private sector.
Retirement Age
60 years for men and 55 years for women, given that they have worked for at least 25 years. If the length of work reaches 35 years the worker can retire regardless of his or her age.
Working Contracts
Employment contracts are regulated by law and collective agreements.

A large part of Venezuelan workers do not benefit from any work contract, they are part of the informal sector. For the rest there are three types of written contracts: a contract must be signed in three copies, one for the employee, one for the employer and one that must be submitted to the Work Administration Department: see the Ministry of Labor's website.

- permanent work contract

- fixed-term work contract

- contract for a fixed-term project, the duration of which depends on the completion of the specific project

Labour Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labour

Minimum Wage
In 2021, the minimum wage is VEF 1,200,000 per month according to the Central Bank of Venezuela.

NB: Venezuela has seen record inflation rates since 2013, which affected wages. In addition, the granting of a minimum wage is now accompanied by food stamps.

Average Wage
The average wage was between USD 0.80 and USD 8 per month in 2020, according to the Venezuelan newspaper El Nacional.
The Central Bank of Venezuela has not released any other data on the average wage since 2012.
Social Contributions
Social Security Contributions Paid By Employers: Between 9% and 11% of wages for the compulsory social security scheme.
Social Security Contributions Paid By Employees: 4% of the gross wage for the complusory social security scheme.

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Social Partners

Social Dialogue and Involvement of Social Partners
CTV: Confederation of Venezuelan Workers : the most powerful. CUTV Unified Confederation of Venezuelan Workers. CODESA : Confederation of Autonomous Trade Unions.
Unions
Confederation of Venezuelan Autonomous Trade Unions (CODESA)
Unionisation Rate
28%.

The Venezuelan trade unions are very powerful, especially in the oil industry sector. They have however been always known for their high levels of politicization and corruption.

Labour Regulation Bodies
Venezuela Labor Law Profile (in Spanish)

Find out more about Operating a Business in Venezuela on GlobalTrade.net, the Directory for International Trade Service Providers.

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Actualitzacions: April 2022

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