Friday, November 17, 2006

Venezuela: Unemployment Drops 22% in year



There has been increasing realization in the world's press that neo-liberal free market policies do not have a monopoly on the label pro-growth. The experience of Venezuela since the employer-led strikes in 02-03 has been one of the most booming economies in the world. In one year, car sales are up 70%, as is the stock market, GDP growth is 10&, poverty is down 30%, and now we learn that unemployment is down 22%.

Though most reports put all the credit with the booming oil market, certainly the Bolivarian economic and social policies of Hugo Chavez must receive some acknowledgement. The health, education, food and cooperative policies have put more money in the hands mass of Venezuelans, stimulating demand where there was little previously. Massive investment in infrastructure, like new train lines and bridges has created jobs and facilitated the movement of goods and services. All in all, it is not difficult to see why Chavez is set to roll on December 3rd.


Venezuela's October jobless rate falls to 8.9 pct
CARACAS, Venezuela, Nov 17 - Venezuela's October jobless rate fell to 8.9 percent from 11.4 percent in same month a year earlier, the National Statistic Institute (INE) said on Friday.

Venezuela, the fourth-largest exporter of oil to the United States, has reported falling unemployment in recent months as high energy prices spurred growth in gross domestic product of 10.2 percent in the third quarter.

Unemployment was 9.5 percent in September 2006.

INE President Elias Eljuri said in a statement the unemployment rate could fall to 7 percent by the end of the year. The statement did not say what was driving unemployment down.

4 Comments:

Anonymous Anonymous said...

CONGRATULATIONS!!! (you know what I'm referring to)

=)

10:31 PM  
Blogger leftside said...

Thank you Mark. Yes, for my 2.5 readers, I have recently gotten engaged to my lovely Pamela - the daughter of a beautiful Ecuadorian family whom I lived 10 minutes from in Schaumburg, IL, then in the same building at University of Illinois, before I really met her in Chicago 5 years ago.

11:29 PM  
Anonymous Larry said...

I wanted to offer congratutions on Manuel Lopez Obrador swearing (himself) in as the new (unelected) President of Mexico. Now you folks on the left have a leftist nutjob in the "South" trying to seize power, or cause chaos in the least, after being fairly defeated in the election. How is it that only those on the left seem to scream out "tainted elections" when the are defeated at the polls? I didn't hear a single person on the right complain about disenfranchisement or cheating after the recent elections in our country.

You lefties obviously will show pride in Mr. Obrador's self-swearing in, in his sore loser attempt to try and change the outcome of the Mexican Presidential elections. I half expect you to try and justify why you think this crackpot is just in his recent farse, but that is expected from those on the left as it is only you folks that are cheated and frauded! LOL! Always cry foul when the outcome is unattractive and back it up with left leaning mass media BS reports.

Maybe the power seizing Chavez can give Obrador some pointers on how to force his way into power?

I actually cringe at the thought that some look up to Obrador as an innovative leader with fresh ideas and actually respect the fact that he is fighting for his (earned)(NOT) placement as Head of State. The idea of crying foul and acting like an eight year old girl that was just told she couldn't go to the Ice Capades, is neither fresh or something to cheer.

What a sore loser this Obrador character has shown himself to be. Reminds me of the past two Presidential elections from the viewpoint of the Democrats after losing.

Go ahead, be proud of that!

10:32 AM  
Blogger leftside said...

Welcome Larry...

I can see how Obrador's actions seem a little funny to we Americans. But maybe you don't know the history of Mexican elections - the fact the Obrador has had 2 elections really stolen before and that Mexico's own electoral agency conceded many mistakes and irregularities in this years polling. I can see why he'd be a bit paranoid. Maybe you also did not know that Obrador is not planning to use this ceremonial position to take over the democracy of Mexico. It is like a shadow government used in many countries.

You can disagree with Obrador's positions, but I don't think anyone would say he is not "innovative." Many of his programs in Mexico City are lauded across the world. He and his party are hugely popular there.

Now that Mexico's President-elect Calderon has picked his ex-IMF Finance Minister, we can expect more joblessness and migration to the US among Mexico's rural poor.

As for your contention that right wingers don't contest elections... umm, not quite. Check what happened in Nicaragua last month - or the challenges in South Dakota, South Carolina and Guam - 3 random GOP examples I picked off google.news vs. 1 democrat challenge (florida).

And how exactly has Chavez in Venezuela "seized" power?

1:12 PM  

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