Venezuela Dec. Unemployment Falls to Lowest Since at Least 1998

[Judi Lynn]

Venezuela Dec. Unemployment Falls to Lowest Since at Least 1998

Dec. 30 (Bloomberg) -- Venezuela's unemployment rate fell to its lowest level since at least 1998 in December as the economy recovered from a recession.

The jobless rate dropped to 10.9 percent in December from 12.8 percent in November, the National Statistics Institute said in a statement. The unemployment rate, which has declined in nine of the last 11 months, was 14.6 percent in December 2003.
(snip/...)

http://www.bloomberg.com/apps/news?pid=10000086&sid=acWk9_YOYEhU&refer=latin_america

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Venezuela's oil output to rise 66% in 5 years

www.chinaview.cn 2004-12-30 09:28:34


CARACAS, Dec. 29 (Xinhuanet) -- The Venezuelan government announced Wednesday that the country will increase oil production by 66 percent in the coming five years.

Foreign Minister Ali Rodriguez said Venezuela plans to raise crude oil production from 3 million to 5 million barrels per day during the same period.

The United States is the largest consumer of Venezuelan oil, absorbing about 85 percent of its export. Venezuelan oil accounts for 12 to 15 percent of the total consumption in the United States.
(snip/)

http://news.xinhuanet.com/english/2004-12/30/content_2393387.htm

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Venezuela Maza Says GDP to Grow 10 Percent in 4th Qtr (Update1)
Dec. 30 (Bloomberg) -- Venezuela's economy probably grew more than 10 percent for a fourth quarter in the October-December period as increased government spending gave people more money to spend, central bank Director Domingo Maza said.

Gross domestic product likely expanded between 10 percent and 15 percent in the fourth quarter from the year-earlier period after growing 15.8 percent in the third quarter, said Maza, one of seven central bank directors.
(snip)

The economy probably will grow between 6 percent and 8 percent next year, Maza said.
(snip)

The government implemented restrictions on foreign currency trading in January 2003 after a two-month national strike aimed at ousting President Hugo Chavez choked off oil production and drained international reserves. The government boosted dollar sales this year to companies and people to $14.8 billion from $4.6 billion in 2003.

``The exchange controls are working much better,'' Maza said. ``There's no shortage of dollars.''
(snip/...)

http://www.bloomberg.com/apps/news?pid=10000086&sid=aBm7eG3zU35M&refer=latin_america

[lovuian]

1. Pretty soon Americans will be going there to work!!!

:bounce:

[pinerow]

8. Being tri-lingual...English, Spanish, and Portuguese...Venezuela is

looking like an attractive place to retire if they continue on this path.

[Kathy in Cambridge]

2. But they're freakin' commies!!!!!

Chavez is repressing the OILgarchy and taking the side of the peasants! we need to invade them and take their oil!!!

[VegasWolf]

3. Exactly, and put bush in charge of them, that will fix them up. n/t

[WMliberal]

13. what do you mean THEIR oil, huh??

I think you're just a Bolshevik trying to put the spotlight on someone else!!!! :tinfoilhat:

[Sara Beverley]

4. Vive Chavez!!!!

Or HOORAY for Chavez. Maybe Cuba and Venezuela can be of mutual help to each other. I would love it!!

[Mika]

5. See what a commie "elected dictator" will do to a nation?

Ed, med, and jobs. AND (((gulp))) a friend of Fidel!


:hi:

[mazzarro]

6. Yes - a friend of FIDEL!

How I Love It When Leaders Of The People get the results that we all crave for! I wonder how many of the oligarchs that financed and plotted to oust Chavez now regret their actions?

[Mika]

7. They have only started. n/t

[Vidar]

9. Kudos to Chavez.

[HuckleB]

10. Good news for Venezuela.

That's a massive leap in one month, which seems a bit odd, though it's clear that the economy in Venezuela is heading fast in the right direction. While the one here in the US is, uh, well, heading somewhere.

[Lydia Leftcoast]

11. Even the NY Times had to admit that Chavez is using the oil revenues

to improve the lives of ordinary people. Imagine that!

[WMliberal]

12. Bully for Chavez!! Maybe I should see if there's any monster.com

listings over there. There sure as hell isn't much here in Hampton Roads.

[VegasWolf]

14. At least someone knows how to run a country. n/t

[Bono71]

15. Good news but 10.9% in the US would lead to revolution...

The worst it got under Bush was around 7%.

[Kathy in Cambridge]

16. What do you think the real unemployment rate is here?

Unemployment is only counted by those receiving unemployment insurance. There are hundreds of thousands that are no longer eligible to collect that are still unemployed, and they're not counted.

So the worst it got under Bush is in reality about 15%, and I don't see any Americans dragging their asses off the couch to protest. They might miss the next episode of "The Apprentice".

[VegasWolf]

17. Exactly, and in some areas of the old steel belt, much higher.