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IT Labor Market |
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IT Impacts On the Business |
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Legal Environment |
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IT Strengths and weaknesses |
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Transborder Data Flow |
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Government Policies |
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About the Authors |
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Sources and Links |
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Overview Venezuela's labor market is composed of approximately 443,520 employees in IT related fields, which represents 4.5% of the total labor force. Additionally, Venezuela produced almost 5,000 scientist and engineers in 1997. Although free quality education exists in Venezuela, there still are issues with retaining the professional workforce in Venezuela. The IT workforce is being paid a third of what the professional guild is deeming as reasonable. Therefore, the Venezuelan IT labor force is migrating to the US, Canada, and Spain where they can earn a better salary. Labor Demographics Venezuela's labor force of about 9.9 million is growing faster than the population growth rate. At the end of June 1999, official unemployment was 15.2%, but unofficial estimates are higher. The public sector employs 16% of the work force, while less than 1% work in the capital-intensive oil industry. About 25% of the labor force is unionized. Unions are particularly strong in the public sector. More than 30 Universities and 50 technical institutions and certification programs offer IT related degrees. The most recognized IT degree is a five-year program of study for a degree in Systems/Software Engineering. The IT positions are currently among the highest paid professions with salaries ranging between US$ 400 per month (analyst-entry position) to approximately US$ 15,000 per month (CIO level). The following table shows demographics and labor information: |
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Source: IMF - Statistical Appendix Report on Venezuela; The world fact book. |