Unemployment on the rise in Lebanon
National Social Security Fund statistics showed rising unemployment among the Lebanese, the Fund’s director-general said Tuesday.
Mohammad Karaki said only 20 percent of those asking for the end of service payments have reached retirement age while 63 percent who asked to settle their endowments have picked up their indemnity before hitting the retirement age.
“Most of these people asked for the endowments because they either lost their jobs, got laid off, emigrated or wanted to collect the indemnity a bit early. This signals rising unemployment and some companies replacing Lebanese labor with foreign laborers,” Karaki said.
- Where did all the good Egyptians go? 2014 sees off over half a million workers, leaving to work abroad
- From labour conditions to grand dreams: New York President talks about the big move to Abu Dhabi
- What women want: new survey reveals Arab women's inner thoughts on workplace equality
- A leadership 'deficit': why ME firms can't give up their reliance on expats
- Much more than just elitism: why Arab students flock abroad for university