Work conditions in Venezuela

The Active Population in Figures

Working Conditions

Legal Weekly Duration

44 hours in the public sector, 48 in the private sector.

Retirement Age

60 years for men and 55 years for women, given that they have worked for at least 25 years. If the length of work reaches 35 years the worker can retire regardless of his or her age.

Working Contracts

Employment contracts are regulated by law and collective agreements.

A large part of Venezuelan workers do not benefit from any work contract, they are part of the informal sector. For the rest there are three types of written contracts: a contract must be signed in three copies, one for the employee, one for the employer and one that must be submitted to the Work Administration Department: see the Ministry of Labor's website.

- permanent work contract

- fixed-term work contract

- contract for a fixed-term project, the duration of which depends on the completion of the specific project

Labour Laws

Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

Cost of Labour

Minimum Wage

In 2021, the minimum wage is VEF 1,200,000 per month according to the Central Bank of Venezuela.

NB: Venezuela has seen record inflation rates since 2013, which affected wages. In addition, the granting of a minimum wage is now accompanied by food stamps.

Average Wage

The average wage was between USD 0.80 and USD 8 per month in 2020, according to the Venezuelan newspaper El Nacional.
The Central Bank of Venezuela has not released any other data on the average wage since 2012.

Social Contributions

Social Security Contributions Paid By Employers: Between 9% and 11% of wages for the compulsory social security scheme.
Social Security Contributions Paid By Employees: 4% of the gross wage for the complusory social security scheme.

Social Partners

Social Dialogue and Involvement of Social Partners

CTV: Confederation of Venezuelan Workers : the most powerful. CUTV Unified Confederation of Venezuelan Workers. CODESA : Confederation of Autonomous Trade Unions.

Labour Unions

Confederation of Venezuelan Autonomous Trade Unions (CODESA)

Unionisation Rate

28%.

The Venezuelan trade unions are very powerful, especially in the oil industry sector. They have however been always known for their high levels of politicization and corruption.

Labour Regulation Bodies

Venezuela Labor Law Profile (in Spanish)