Venezuelan November Unemployment Falls to 3-Year Low

[Robbien]

Dec. 21 (Bloomberg) -- Venezuela's unemployment rate fell to near a three-year low in November as the economy recovers from a two-year recession while a surge in government spending helps create jobs.

Joblessness dropped to 12.8 percent in November from 13.7 percent in October, the lowest since December 2001, the National Statistics Institute said on its Web site. The unemployment rate, which declined in eight of the last 10 months, was 15.4 percent in November 2003.

<snip>

Employment is recovering as the economy of the world's fifth- largest oil exporter grew 20 percent in the January-September period after contracting 7.6 percent last year and 8.9 percent in 2002. Record oil prices since April boosted government revenue from the state-owned oil company, Petroleos de Venezuela SA, helping fuel a 77 percent surge in public spending in the first nine months of the year.

``The government has created a lot of short-term jobs through social spending,'' said Andreas Faust an analyst with Banco Mercantil in Caracas. ``Construction has also bounced back from practically zero the last two years, and that sector generates a lot of employment.''

http://www.bloomberg.com/apps/news?pid=10000086&sid=ahL...

This news has got to be giving the global corporatists some sleepless nights. It sure does put the lie to their massive propaganda campaign about Chavez's socialist reforms being bad for Venezuela economy.

[livinginphotographs]

1. Damn pinko commies!

Do you know how many CEOs are having to take cuts in their paychecks to pay for all those workers? How many beach houses are having to be sold off to pay for their health benefits?

[w4rma]

2. He's not Communist. I realize you were being fasicous, but some readers

might not catch that. It's better to just plain spoken than sarcastic.

[livinginphotographs]

3. Sorry. I was going to put the sarcastic tag on there

But I figured I was being obvious enough.

[gorbal]

5. I meat alot of confused people.

A lot of people like to call him a communist. Of course, they like to call Sweden and France Communist as well.

[Just Me]

9. They're confused because they were "told" democracy, communism,...

,... and socialism (theories developed to overcome aristrocacy and all that) actually exist(ed) when those concepts never ever did take form due to greed and corruption.

Democracy, communism, socialism,...DO NOT EXIST!!!

The perpetual "powers that be" do exist, have existed,...and will always seek to corrupt any human capacity towards a more equal and just world in order to continue to maintain their cling upon power and privilege.

[goforit]

4. Too funny!!

More propaganda from you know who.

[sasquatch]

6. "Socialism doesn't work!"

Socialist are the one that work at those jobs

[Matilda]

7. I hope this news ruins Bush's Christmas.

n/t

[0007]

8. ........go Hugo go

[NorthernSpy]

10. nowadays, all the good news belongs to other people

Remember when things were better?

:::wistful:::

[peacetalksforall]

11. Hooray for their progress. Vacation in Venzuela.