Unemployment rate in Arab countries reach 25%
MENAFN – 09/12/2003
(MENAFN) – The unemployment rate in Arab countries reached 25 percent, while it decreased in Gulf States as it stood at 6 percent, the Yemen Observer reported. The rate jumped 70 percent in Iraq and Palestine.
The Secretary General of Arab Labor Organization said in a report that the number of jobless people would reach 3 million yearly in the coming year, noting that to maintain the current rate, 2.5 to 3 million job opportunities need to occur.
The official pointed out that in order to combat unemployment, there is a need of investment at the value of $70 billon. He also pointed out that the current annual loses for Arab budgets is $115 billion due to unemployment.
