The active population in figures

Note: (e) Estimated data

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 exemplaries, one for the employee, one for the employer and one that must be submitted to the Work Administration Department: see the Ministry of Labour'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

Cost of labor

Minimum wage

VEF 1,550 (USD 360).

Social contributions

Social security contributions paid by employers: N/A.

Social partners

Social dialogue and involvement of social partners

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

Unions

Confederation of Venezuelan Workers (CTV)
Unified Confederation of Venezuelan Workers (CUTV)
Confederation of Venezuelan Autonomous Trade Unions (CODESA)

Unionization 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.

Labor regulation bodies

Venezuela Labour Law Profile
Text of the Labour Law