• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
See More

Tunisia's 700 000 jobless needs a miracle

Jan 25 2013 16:23 Sapa

Related Articles

$500m Tunisia loan to revive economy

Businessman to revive Tunisia's economy

World Bank approves loan for Tunisia

Tunisia sells stock in confiscated firms

Premier: Tunisian economy to grow 3.5%

Tunisia's sovereign debt rating cut


Tunis - The central bank governor warned on Friday that unless there is a "miracle", chronic unemployment will persist in Tunisia where sometimes violent social unrest has taken place two years after the revolution.

"If the job market manages in the coming years to solve the unemployment problem, it will be a miracle," Chedly Ayari told Shems-FM radio.

"The number of jobless is too high at 700 000," he said.

"With each passing year there are 100 000 more (entering the job market), and half of these have degrees. Even if we create 100 00 new jobs a year, we won't be able to reduce the 'stock'," Ayari said.

Based on studies looking ahead to 2015-2017, Ayari said unemployment could settle at 10-11% under "ideal conditions" in the economy, as opposed to the current 17-18%.

The lack of jobs and dire social conditions, especially among the young, were driving factors behind the revolution that ousted long-time dictator Zine El Abidine Ben Ali in January 2011.

Hopes for rapid change have been dashed, resulting in the outbreak of serious social unrest descending into violence.

The nation has been rocked by discontent that exploded into violence earlier this month in the southern town of Ben Guerdane and at Siliana in the northwest last month, injuring 300 people.

The precarious security situation during the past two years and a cloud of political uncertainty hanging over the country have also caused a rapid fall in investment, adding to the unemployment problem.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

tunisia  |  unemployement


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.

The rich will pay - Mpofu

The EFF in Gauteng will focus all its energy on improving the lives of the poor, the party's premier candidate Dali Mpofu says.


Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...