World Bank warns against rising joblessness


MENAFN - 16/11/2009

E-Mail Article

Printer-Friendly

Translate

Text Size

(MENAFN) World Bank President Robert Zoellick said that the large-scale unemployment is expected to continue in some of the world's developed countries and would endanger the economic rebound, AP reported.

The World Bank chief's comment came days after Washington announced the unemployment rate hit 10.2 percent in the United States last month, the double-digit level not seen since April 1983. Economists say the jobless number could still rise.

Zoellick pointed out that while Asia is recovering fast from the worst recession in decades the conditions in the U.S. and Europe remain difficult.

The World Bank chief also highlighted three other aspects of risks to the global recovery, the hand-over of demand from public to private sectors, the new source of growth as U.S. consumers can on longer be the engine, and inflationary pressures and asset bubble concerns in fast recovering East Asian economies.

MENA News Headlines

	Feb 9 2010	EAD, Iraqi ministry sign MoU, Khaleej Times
		(MENAFN - Khaleej Times) The Environment Agency Abu Dhabi (EAD) and the Iraqi Environment Ministry have signed a memorandum of understanding for the restoration and sustainable preservation of the...
	Feb 9 2010	Qatar: QR33m road project for Al Wakra, The Peninsula
		(MENAFN - The Peninsula) The Public Works Authority (Ashghal) has launched a project worth QR33m to develop roads linking Al Wakra town with the under-construction Barwa Village. ...
	Feb 9 2010	Qatar- Car prices set to see steep fall, The Peninsula
		(MENAFN - The Peninsula) With their sales having dipped to record lows last year, automobile dealers in the country are busy mulling ways to get rid of unsold 2009 stocks. ...
	Feb 9 2010	UAE- Should There be Licences for Teachers?, Khaleej Times
		(MENAFN - Khaleej Times) Thinning interest among UAE nationals to pursue education degrees and high turnover of teachers are cause for concern, but experts feel the situation can be remedied by...
	Feb 9 2010	PTRC: 64% of Jordan citizens willing to pay higher transport fares, Jordan Times
		(MENAFN - Jordan Times) Around 64 per cent of citizens are willing to pay higher fares in exchange for better public transport services, according to a recent poll conducted by the Public Transport...
	Feb 9 2010	Moody's: Kuwait $100b plan to spur non-oil sectors, MENAFN
		(MENAFN) A report issued by Moody's Investor Service said that Kuwait's $100 billion development plan, passed by the parliament earlier this week, is expected to bolster the country's non-oil private...
	Feb 9 2010	Jordan- Gov't not lifting water subsidy, Jordan Times
		(MENAFN - Jordan Times) The government has no plans to lift water subsidies or increase water tariffs, a government official said on Monday. A water official, who preferred to remain unnamed...
	Feb 9 2010	Jordan- Gov't might lift subsidies, Jordan Times
		(MENAFN - Jordan Times) The government has not yet decided to lift subsidy on gas cylinders, pending a final decision on a bundle of austerity and other measures designed to address a challenging...
	Feb 9 2010	Jordan- IFP announces agenda for 2010, Jordan Times
		(MENAFN - Jordan Times) International Fairs and Promotions Company (IFP) announced on Monday its agenda for 2010 which includes five specialised exhibitions to be held in Amman...
	Feb 9 2010	IMC-Jordan to release set of new services, Jordan Times
		(MENAFN - Jordan Times) IMC-Jordan (Institute of Management Consultants and Trainers of Jordan) announced on Monday that it will be releasing a new set of services for their members to effectively...
more...