JEDDAH – Youth unemployment in the Arab region is the highest in the world, the US International Labor Organization (ILO) report named “Rethinking Economic Growth: Towards Productive and Inclusive Arab Societies” released Tuesday said.
“As a region, youth unemployment is the highest globally at 23.2 percent, compared to a world average of 13.9 percent, and varies significantly within sub-regions,” it said.
Furthermore the youth literacy rate is now 92 percent in North Africa and 99 percent in the Middle East and the Gulf Cooperation Council, the Saudi Press Agency.
Countries in the region were able to tackle debt and inflation during the 1990’s and 2000’s, they also managed to spur economic growth and create jobs.
However, growth lagged behind global standards and the newly created jobs were focused in the arena of low productivity sectors. Governments paid scant attention to the social consequences of their economic policies.
Read more: http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20130207152216
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