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Last updated: 10:42:44 PM GMT(+03) Monday, 06, August, 2012
 
 

Yemen Has Second Highest Unemployment Rate among Arab Countries, IMF

 
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 Yemen Post Staff

Yemen had the second highest unemployment rate in the Arab world 35% after Djibouti 59%, according to recent statistics by IMF.
Mauritania came third 30%, Sudan fourth 18.7% and Iraq, Bahrain and Oman followed.
Yemen is the poorest country in the region and the latest developments including the 2011 turmoil badly deepened its woes.
According to government and donor reports including the transitional program for stabilization and development 2012-2014, poverty and unemployment have increased in the past few years amid expectations there will be no growth in the next two years.
The 2011 unrest caused the economic activity to contract by 11 percent leading to unemployment rate to rise, mainly among the young people.
About 50 percent of the jobless in the country are youths.
Poverty increased from 42 percent in 2009 to 54.5 percent at end 2011, said the Joint Social and Economic Assessment Report which was conducted by the WB, the UN, the EU, the IDB and the government.
Qatar, Kuwait and Syria had the lowest unemployment rates-- 0.5%, 1.5% and 9.2% respectively, the IMF statistics said.


Yemen Post Staff
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Source: Yemen Post Newspaper
 
 
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