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El Salvador industry loses thousands of jobs

Thursday, September 11, 2014

El Salvador's industrial sector has lost 2,500 jobs during the first 100 days in office of President Salvador Sánchez Cerén, said Javier Simán, president of the country's industrial association.

The main cause for the loss of jobs is a lack of policy that would help maintain economic growth, as well as a recent fiscal reform, he added.

The number of jobs lost could continue to grow, as the new fiscal laws prevent businesses from raising prices, which leaves them having to cut jobs.

Story (in Spanish): La Prensa Gráfica