The President of Venezuela’s National Institute of Statistics (INE), Elias Eljuri, said that 3.4 million jobs have been created under the government of President Hugo Chávez.
The quality of jobs has also improved, Eljuri said, with formal employment up from 49 percent in 1999 to 58.7 percent in 2012, while informal employment has fallen by 10 percent in the same period.
Eljuri dismissed the jobs proposal of opposition candidate Enrique Capriles Radonski, who has said he would provide fiscal stimulus so that private companies can hire young people.
“Creating 3 million jobs with a neoliberal policy is impossible because what capitalism does is generate unemployment,” he said.
Eljuri mentioned the economic crisis in developed countries like the U.S., where 15 million people are unemployed and unable to find jobs despite economic growth, and Europe, where in countries such as Spain have unemployment rates of nearly 25 percent.
Likewise, he added, the Venezuelan government has allocated about $500 billion to social investment, which represents 61 percent of the total revenues.
“This is 24 percentage points more than under the previous government. That social investment prevented unemployment from jumping to levels similar to those in Europe and the U.S. during 2009 and 2010, when the economy dropped, because funds for the social sector have been very important,” the INE president said.
Likewise, he said that minimum household incomes will rise to almost $700 when the second phase of the increase in minimum wage comes into effect in September of this year.