Unemployment In Venezuela Essay

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Venezuela’s unemployment rate is considered to be the highest in South America as of 2015. As the sixth largest company in South America, Venezuela is known for being one of the world’s leading producer in petroleum, manufacturing, gems and precious metals. Over the last three years, Venezuela’s overall lack of economic growth and government actions internationally seem to have some form of responsibility to its current state. Venezuela currently has an estimate of 14.09 percent unemployment rate compared to United States unemployment rate of 5.2 percent in the year 2015. This number of unemployed citizens has nearly doubled for Venezuela from the year of 2014, when their unemployment rate was at 7.99 percent (Actualitix, 2016).
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There is either not enough jobs or there are not enough skilled individuals to handle the required jobs. Because of the government spending and fiscal shortfalls of Venezuela’s leadership, its citizen’s day-to-day lives have been affected, education has not been a top priority. Everyday there are roughly 30% - 40% percent of the Venezuelan teachers that do not show up to teach their students because they are making the decisions based on teaching or standing in long lines to receive food or medicine from the government. Venezuela is considered to be a declining country focusing on its strength in oil exports, but it lacks it growth in technology and manufacture cause of skilled labor. “Oil represents nearly all of Venezuela’s exports and contributes about half of its annual income. Lack of economic diversification leaves Venezuela extremely vulnerable to declining world oil prices.” (2016, The Heritage Foundation) Venezuela doesn’t have a high level of secondary education post graduated to obtain these jobs regarding technology unless you are in position financially. Search engines in Venezuela are not like the United States to look for employment. In Venezuela, citizens are very limited in searching for employment do to the lack of technology and government control. It’s hard for a Venezuelan company to find qualified individuals that possess a set of skills for their company do to the lack of education and government

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