Minimum Wages in Venezuela increased to 400000 VEF/Month in May from 250000 VEF/Month in January of 2020.

Minimum Wages in Venezuela averaged 199505.86 VEF/Month from 1989 until 2020, reaching an all time high of 5196000 VEF/Month in June of 2018 and a record low of 4 VEF/Month in January of 1989. This page provides - Venezuela Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news. Venezuela Minimum Monthly Wages - values, historical data and charts - was last updated on October of 2020. source: Venezuela Central Bank

Minimum Wages in Venezuela is expected to be 400000.00 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 550000.00 in 12 months time. In the long-term, the Venezuela Minimum Monthly Wages is projected to trend around 750000.00 VEF/Month in 2021 and 950000.00 VEF/Month in 2022, according to our econometric models.

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Venezuela Minimum Monthly Wages

Actual Previous Highest Lowest Dates Unit Frequency
400000.00 250000.00 5196000.00 4.00 1989 - 2020 VEF/Month Monthly

Venezuela Labour Last Previous Highest Lowest Unit
Unemployment Rate 6.40 7.30 20.70 5.50 percent [+]
Employed Persons 15011108.00 14715518.00 15011108.00 8505814.00 [+]
Unemployed Persons 1018421.00 1166087.00 2406251.00 760063.00 [+]
Minimum Wages 400000.00 250000.00 5196000.00 4.00 VEF/Month [+]
Population 32.22 31.83 32.22 7.58 Million [+]
Employment Rate 93.65 92.66 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.