Business leaders stress job retention more important than pay rises

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Wednesday, April 02, 2003 By: Robert Rudnicki

Business sector leaders have again criticized the Confederation of Trade Unions' (CTV) call for 30% pay rises, stressing that in the current economic environment preserving jobs was significantly more important than looking for pay increases.

Industrial Confederation (Conindustria) president Lope Mendoza pointed to the fact that unemployment in the industrial sector currently stands at around 16%, and warned that this figure may increase over the remainder of this year.

Mendoza warned against heaping any additional pressures on employers' shoulders, as well as on the government, which due to the opposition work stoppage is also short on funds needed for any possible salary hike. Venezuelan Federation of Chambers of Commerce & Industry (Fedecamaras) vice president Albis Munoz echoed the sentiment.