In the timeframe presented, there has been a general uptick in the average monthly salary for Venezuelan employees, peaking at $230.76 USD in July 2024.

Throughout the depicted period in Venezuela, there has been a disparity in the average salary across various job categories, with the highest being consistently observed for managers each month. Furthermore, wages have exhibited a gradual upward trajectory.

Minimum Wages in Venezuela remained unchanged at 13000000 VEF/Month in 2025 from 13000000 VEF/Month in 2024. This dataset provides - Venezuela Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Costa Rica is the country with the highest minimum monthly wage in Latin America. According to the minimum salary established by law as of January 2024, workers in the Central American country enjoy a basic monthly wage of over 687 U.S. dollars, an increase of 1.83 percent compared to the previous year and over 100 U.S. dollars more than the second place, Uruguay. On the other side of the spectrum is Venezuela, where employees are only guaranteed by law a minimum salary of 130 bolívares or little more than three dollars per month. Can Latin Americans survive on a minimum wage? Even if most countries in Latin America have instated laws to guarantee citizens a basic income, these minimum standards are often not enough to meet household needs. For instance, it was estimated that almost 25 million people in Mexico lacked basic housing services. Salary levels also vary greatly among Latin American economies. In 2020, the average net monthly salary in Mexico was barely higher than Chile's minimum wage in 2021. What can a minimum wage afford in Latin America? Latin American real wages have generally risen in the past decade. However, consumers in this region still struggle to afford non-basic goods, such as tech products. Recent estimates reveal that, in order to buy an iPhone, Brazilian residents would have to work at least two months to be able to pay for it. A gaming console, on the other hand, could easily cost a Latin American worker several minimum wages.

Explore the progression of average salaries for graduates in Law Venezuela Law from 2020 to 2023 through this detailed chart. It compares these figures against the national average for all graduates, offering a comprehensive look at the earning potential of Law Venezuela Law relative to other fields. This data is essential for students assessing the return on investment of their education in Law Venezuela Law, providing a clear picture of financial prospects post-graduation.

Explore the progression of average salaries for graduates in Universidad Central De Venezuela Nucle Barquisimeto from 2020 to 2023 through this detailed chart. It compares these figures against the national average for all graduates, offering a comprehensive look at the earning potential of Universidad Central De Venezuela Nucle Barquisimeto relative to other fields. This data is essential for students assessing the return on investment of their education in Universidad Central De Venezuela Nucle Barquisimeto, providing a clear picture of financial prospects post-graduation.

Uruguay was the Latin American country with the highest average monthly salary as of 2024, with a net value of around 1,088 U.S. dollars per month, followed by Costa Rica, with 947 U.S. dollars per month. Employment development areas in Latin America Following the recuperation in this sector after the job losses endured throughout the COVID-19 pandemic, the unemployment rate persists in its endeavor to stabilize. Informal employment remains as the predominant actor across most Latin American countries, serving as a primary avenue for economic sustenance. Notably, the construction sector has experienced substantial growth, outpacing other relevant industries like tourism and hospitality. Poverty Throughout the past two decades, poverty levels in Latin America remain unchanged. Honduras takes the lead as the country bearing the highest poverty rate, with nearly half of its population dwelling in these circumstances. Across the region, the prevalent delineation is that of individuals classified within the non-extreme and lower-middle poverty strata, characterized by modest income levels.

Venezuela VE: Wage And Salary Workers: Modeled ILO Estimate: Male: % of Male Employment data was reported at 63.122 % in 2017. This records a decrease from the previous number of 63.971 % for 2016. Venezuela VE: Wage And Salary Workers: Modeled ILO Estimate: Male: % of Male Employment data is updated yearly, averaging 64.082 % from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 65.221 % in 2014 and a record low of 62.273 % in 2004. Venezuela VE: Wage And Salary Workers: Modeled ILO Estimate: Male: % of Male Employment data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank: Employment and Unemployment. Wage and salaried workers (employees) are those workers who hold the type of jobs defined as 'paid employment jobs,' where the incumbents hold explicit (written or oral) or implicit employment contracts that give them a basic remuneration that is not directly dependent upon the revenue of the unit for which they work.; ; International Labour Organization, ILOSTAT database. Data retrieved in November 2017.; Weighted average; Data up to 2016 are estimates while data from 2017 are projections.

Graph and download economic data for Gross National Income for Bolivarian Republic of Venezuela (MKTGNIVEA646NWDB) from 1960 to 2014 about Venezuela, GNI, and income.

Venezuela Public Sector: Total Expenditure: Current: Operating Expenditure: Wages and Salaries data was reported at 13,392,398.373 VEF th in 2011. This records an increase from the previous number of 4,903,960.174 VEF th for 2010. Venezuela Public Sector: Total Expenditure: Current: Operating Expenditure: Wages and Salaries data is updated yearly, averaging 7,621,588.055 VEF th from Dec 1998 (Median) to 2011, with 14 observations. The data reached an all-time high of 37,476,088.858 VEF th in 2009 and a record low of 2,124,627.592 VEF th in 1998. Venezuela Public Sector: Total Expenditure: Current: Operating Expenditure: Wages and Salaries data remains active status in CEIC and is reported by Ministry of Economy, Finance and Public Banking. The data is categorized under Global Database’s Venezuela – Table VE.F007: Public Sector Financing.

In 2021, Venezuela scored 0.617 in the gender gap index area of economic participation and opportunity. This means that women are at approximately 38 percent disadvantage in the sector of economic opportunities in comparison to men. More specifically, that year, the country scored 0.43 in estimated earned income, which shows that, on average, women in Venezuela only earn 43 percent of the income earned by men.

Due to the recent hyperinflation crisis in Venezuela, the average inflation rate in Venezuela is estimated to be around 150 percent in 2025. However, this is well below the peak of 63,000 percent observed in 2018.What is hyperinflation?In short, hyperinflation is a very high inflation rate that accelerates quickly. It can be caused by a government printing huge amounts of new money to pay for its expenses. The subsequent rapid increase of prices causes the country’s currency to lose value and shortages in goods to occur. People then typically start hoarding goods, which become even more scarce and expensive, money becomes worthless, financial institutions go bankrupt, and eventually, the country’s economy collapses. The Venezuelan descent into hyperinflationIn Venezuela, the economic catastrophe began with government price controls and plummeting oil prices, which caused state-run oil companies to go bankrupt. The government then starting printing new money to cope, thus prices rose rapidly, unemployment increased, and GDP collapsed, all of which was exacerbated by international sanctions. Today, many Venezuelans are emigrating to find work and supplies elsewhere, and population growth is at a decade-low. Current president Nicolás Maduro does not seem inclined to steer away from his course of price controls and economic mismanagement, so the standard of living in the country is not expected to improve significantly anytime soon.

As of May 2022, the price of one liter of gasoline in Nicaragua represented around 14 percent of the average daily income of individuals in the country, more than in any other Latin American country that year. On the other side of the spectrum, one liter of gasoline in Venezuela cost some 1.3 percent of the average daily income in the country. This can be contextualized as relating to the fact that Venezuela accounts for the largest share of global oil reserves.

Venezuelan women who migrated to Peru earned, on average, less than men in the same situation. According to a survey carried out in the Peruvian cities of Lima, Arequipa and Piura in January of 2019, 58 percent of Venezuelan women had a monthly income lower than 931 Peruvian soles. Most of Venezuelan men who were working in these Peruvian municipalities earned between 931 and 1,500 soles.