Minimum Wages in Venezuela increased to 4000000000 VEF/Month on April 16th from 180000000 VEF/Month in January, according with the decree published in the Official Gazette. It is the second hike this year. In 2018, the minimum wage was raised five times. Minimum Wages in Venezuela averaged 109178051.92 VEF/Month from 1989 until 2019, reaching an all time high of 4000000000 VEF/Month in April of 2019 and a record low of 4 VEF/Month in January of 1989.

Minimum Wages in Venezuela is expected to be 4000000000.00 VEF/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Minimum Wages in Venezuela to stand at 6000000000.00 in 12 months time. In the long-term, the Venezuela Minimum Monthly Wages is projected to trend around 9500000000.00 VEF/Month in 2020, according to our econometric models.

Venezuela Minimum Monthly Wages
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Venezuela Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.30 7.10 20.70 5.50 percent [+]
Employed Persons 13089081.00 13127644.00 13607057.00 8505814.00 [+]
Unemployed Persons 1035238.00 1000943.00 2406251.00 760063.00 [+]
Minimum Wages 4000000000.00 1800000000.00 4000000000.00 4.00 VEF/Month [+]
Population 31.83 31.43 31.83 7.58 Million [+]
Employment Rate 92.67 92.92 94.47 79.30 percent [+]

Venezuela Minimum Monthly Wages

In Venezuela, minimum wage refers to the lowest gross wage per month. There is also a minimum wage set for apprentices and pensioners. A Christmas bonus - Aguinaldo -(from 15 days to 4 months' pay) and a vacation bonus are compulsory for all employees. This page provides - Venezuela Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news. Venezuela Minimum Monthly Wages - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4000000000.00 1800000000.00 4000000000.00 4.00 1989 - 2019 VEF/Month Monthly

Country Last Previous
Argentina 16875.00 Oct/19
Australia 740.80 Jul/19
Brazil 998.00 Oct/19
Canada 14.00 Dec/19
China 2480.00 Apr/19
France 1521.22 Dec/19
Germany 9.19 Jan/19
India 176.00 Dec/18
Indonesia 3.94 Jan/19
Japan 901.00 Oct/19
Mexico 102.68 Aug/19
Netherlands 1635.60 Dec/19
Russia 11163.00 May/18
South Korea 8350.00 Dec/19
Spain 1050.00 Jun/19
Turkey 2558.40 Dec/19
United Kingdom 8.21 Apr/19
United States 7.25 Dec/19