40 percent of Venezuelan workforce excluded from the labor market

Economically inactive population remains at a high level and experts do not expect a downward trend, although unemployment rate is diminishing.

According to data from the Venezuelan National Statistics Institute (INE), the first group, that was formed by 6,783,348 people until June, together with 960,515 people that tried to find a job that month but failed to do so, totaled 7,743,863 people excluded from the labor market.

This figure shows that 40 percent of the workforce cannot have a job or it is not interested in getting a job.

According to the data issued by INE, the working-age population, i.e. people older than 15, was 19,404,710 Venezuelan people, by the end of June.

Over the past 12 months, the government agency reported that 66,046 people left unemployment. However, during the same period, 100,505 people became part of the economically inactive population.