Unemployment remains high in Palestine

Unemployment remains a big issue for the Palestinian economy, with over a quarter of the population without work

The unemployment rate in the Palestinian Territory decreased from 27.8% in the 3rd quarter of 2012 to 26.7% in the 4th quarter of 2012, Sunday said the Palestinian Central Bureau of Statistics.

Using ILO standards, the number of unemployed persons was 260,000; distributed to

139,000 in the West Bank and 121,000 in Gaza Strip, it said.

Unemployment rate in Gaza Strip reached 32.2% is compared with 18.3% in the West Bank.

The highest unemployment rate was concentrated among youth aged 20-24 years where it reached 39.5%.

Labor force participation rate reached 43.9% of persons aged 15 years and above.

The number of people participating in labor force in the Palestinian Territory was 1.137 million; of whom 761,000 in the West Bank and 376,000 in Gaza Strip.

The labor force participation rate in the West Bank reached 46.1%, while it was 40.0% in Gaza Strip.

A total of 69.2% is the participation rate for males, compared to 17.9% for females.