Minimum Wages in Venezuela increased to 1800000000 VEF/Month in January from 450000000 VEF/Month in December of 2018. It is the first rise this year. In 2018, the minimum wage was raised five times. Minimum Wages in Venezuela averaged 42094914.88 VEF/Month from 1989 until 2019, reaching an all time high of 1800000000 VEF/Month in January of 2019 and a record low of 4 VEF/Month in January of 1989.

Minimum Wages in Venezuela is expected to be 1800000000.00 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 1800000000.00 in 12 months time. In the long-term, the Venezuela Minimum Monthly Wages is projected to trend around 190000000.00 VEF/Month in 2020, according to our econometric models.

Venezuela Minimum Monthly Wages
Forecast Data Chart
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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 1800000000.00 450000000.00 1800000000.00 4.00 VEF/Month [+]
Population 31.43 31.03 31.43 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1800000000.00 450000000.00 1800000000.00 4.00 1989 - 2019 VEF/Month Monthly

Country Last Previous
Argentina 11900.00 Apr/19
Australia 719.20 Jul/18
Brazil 998.00 Apr/19
Canada 14.00 Dec/19
China 2480.00 Apr/19
France 1521.22 Dec/19
Germany 9.19 Jan/19
Indonesia 3.94 Jan/19
Japan 874.00 Oct/18
Mexico 102.68 Mar/19
Netherlands 1615.80 Jun/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