US and Canada are Backing an Elite White Minority in Venezuela

4. Unemployment Rate: Before and After Oil Strike

Unemployment Rate: Before and After Oil Strike
(Image by Center for Economic and Policy Research)   Details   DMCA

After the oil strike (and the deep recession that it caused) ended in 2003, unemployment dropped drastically, following many years of increases before Cha'vez was elected. In 1999, when Cha'vez took office, unemployment was 14.5 percent; for 2011 it was 7.8 percent.

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5. Poverty and Extreme Poverty Rate

Poverty and Extreme Poverty Rate
(Image by Center for Economic and Policy Research)   Details   DMCA

Source: INEC

Poverty has decreased significantly, dropping by nearly 50 percent since the oil strike, with extreme poverty dropping by over 70 percent.

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6. Gini Coefficient, 2001-2003 - Latin America

Gini Coefficient, 2001-2003 - Latin America
(Image by Center for Economic and Policy Research)   Details   DMCA

Source: Economic Commission on Latin America and the Caribbean

The Gini coefficient, measuring income inequality, fell from 0.5 to 0.397, the lowest Gini coefficient in the region.

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