CTV says 10% of Venezuelans will lose their jobs this year

www.vheadline.com Posted: Sunday, March 09, 2003 By: Robert Rudnicki

According to Confederation of Trade Unions (CTV) secretary general Manuel Cova, 10% of Venezuelans face the risk of losing their jobs this year, amounting to around one million people. 

Cova claims that the reason for this problem is the ongoing political instability in the country and falling confidence in Venezuela's judicial system, following a number of decisions that the opposition has strongly questioned.

These two factors, Cova says are deterring necessary investment in job maintenance and creation.

The number of unemployed in Venezuela stands at around 17%, but industry chamber Conindustria is warning that this figure will increase to 27%, as businesses close as a result of recent maximum price controls on many goods. Posted: Sunday, March 09, 2003 By: Robert Rudnicki

CTV says 10% of Venezuelans will lose their jobs this year

According to Confederation of Trade Unions (CTV) secretary general Manuel Cova, 10% of Venezuelans face the risk of losing their jobs this year, amounting to around one million people. 

Cova claims that the reason for this problem is the ongoing political instability in the country and falling confidence in Venezuela's judicial system, following a number of decisions that the opposition has strongly questioned.

These two factors, Cova says are deterring necessary investment in job maintenance and creation.

The number of unemployed in Venezuela stands at around 17%, but industry chamber Conindustria is warning that this figure will increase to 27%, as businesses close as a result of recent maximum price controls on many goods.