Weekly Report - 28 June 2012 (WR-12-25)

VENEZUELA | Positive unemployment signs. Venezuela’s national statistics institute (INE) reported on 20 June that the unemployment rate among the economically active population fell from 8.6% to 7.9% between April and May. INE president, Elías Eljuri, pointed out that while the statistic means that some 1.2m Venezuelans are out of work, the figure reflects the “sustained recovery of the national economy”. According to INE data, the unemployment rate progression in Venezuela since the beginning of the year has been: 10.3% in January, 9.2% in February, and 8.6% in March. Eljuri also highlighted the fact that the percentage of the economically active population that is in formal employment now stands at 59.1%.

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