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St. Kitts and Nevis Information
Caribbean Unemployment Projected to Increase in 2009
2009-01-23 18:40:42 by
A recent report from the United Nations said that although it expects the economies of the Caribbean to grow this year, it predicts that unemployment will also increase.
The UN is projecting a 2.3 % growth in economies of the region, however it said that the jobless figure was expected to exceed 8 %.
"The rise in unemployment is set to reverse the positive trend of recent years, when employment quality had improved and the unemployment rate had fallen to 7.5 per cent," the UN said in a report called World Economic Situation and Prospects 2009.
One of the key factors noted in the in the fall of the economic growth of the Caribbean, is the fall in world commodity prices, further causing domestic credit to tighten in many economies.
The document said another major factor that would have implications for the region was the recession in the United States. The UN said inflationary pressures, which surged during 2008 because of the increasing costs of energy, transportation and food, should decelerate in 2009. The document estimates global inflation of 7.3 per cent in 2009, compared to 8.1 per cent last year.
There are great real estate opportunities available on both St. Kitts and Nevis. Contact us for details.
The UN is projecting a 2.3 % growth in economies of the region, however it said that the jobless figure was expected to exceed 8 %.
"The rise in unemployment is set to reverse the positive trend of recent years, when employment quality had improved and the unemployment rate had fallen to 7.5 per cent," the UN said in a report called World Economic Situation and Prospects 2009.
One of the key factors noted in the in the fall of the economic growth of the Caribbean, is the fall in world commodity prices, further causing domestic credit to tighten in many economies.
The document said another major factor that would have implications for the region was the recession in the United States. The UN said inflationary pressures, which surged during 2008 because of the increasing costs of energy, transportation and food, should decelerate in 2009. The document estimates global inflation of 7.3 per cent in 2009, compared to 8.1 per cent last year.
There are great real estate opportunities available on both St. Kitts and Nevis. Contact us for details.