In 1976, two-thirds of the employed population of Venezuela worked in legal businesses; now that percentage is less than half.

May 9, 2015

"In 1976, two-thirds of the employed population of Venezuela worked in legal businesses; now that percentage is less than half. Only 10 percent of the population of Zambia has an official job...In other developing countries it's virtually the same story; According to the International Labour Organization (ILO)...85 percent of all jobs created in Latin America since 1990 have been in the informal sector. This includes mobile-telephone booths using cell phones, trash haulers, workshops that make knock-offs of brand-name goods, and even dentists who fill cavities without credentials. These activities don't count as official parts of the economy, but they play a large role in the daily lives and work of 80 percent of the world's population."

 

Source: Jurriaan Kamp, "Do-It-Yourself Prosperity," ODE December 2005.

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