IMF revises Algerian unemployment down

IMF revises Algerian unemployment down
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Published April 15th, 2013 - 13:37 GMT via SyndiGate.info

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The IMF has revised down Algerian unemployment, but youths with out work remains a big issue
The IMF has revised down Algerian unemployment, but youths with out work remains a big issue
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Algiers
,
Arab Labour Organization
,
International Monetary Fund

Algeria's Minister of Labour, Employment and Social Security Tayeb Louh unveiled Sunday in Algiers that the International Monetary Fund (IMF) revised Algerian unemployment rate down to 9.3% in 2013.

Speaking during a news conference with the Arab Labour Organization (ALO) General Manager on the sidelines of the 40th Arab Labour Conference, the minister said IMF forecasts in its last report on the Arab Maghreb indicated "decline of Algeria unemployment to 9.3% in 2013."

The minister recalled that Algeria unemployment rate declined from 30% in 1999 down to 10%, which the overall rate of unemployment. However, unemployment rate among youth under 24 remains high, he noted.

Moreover, Louh said that the Algerian experience will be objectively presented, during the 40th session of ALO, notably in the segment concerning the increase of unemployment rate in early 1990 after the fall of the national economy, recalling that 400,000 workers of the economic companies lost their jobs during this period.

The measures adopted by Algeria to reduce unemployment which declined these last years to stand at 10%, through the national policies which helped revive the economy and Algerian financial autonomy after the 90s, will be also outlined.

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