5 Aug 2009

Fiji's unemployment rate is expected to increase

10:20 am on 5 August 2009

Fiji's unemployment rate is expected to increase further this year as a result of the global recession.

The Fiji Sun newspaper quotes an economist in the International Labour Organisation Dr Naren Prasad as saying that Fiji is expected to be badly hit by the crisis.

The paper quotes Dr Prasad as saying it will take five years for unemployment to fall to its previous state.

Dr Prasad says Fiji's unemployment rate is expected to rise by 2.4 per cent from its current standing of 8 point 6 percent.

The overall unemployment rate for small islands states is expected to rise from 12.3 per cent to 14.8 per cent.

Dr Prasad added that the poverty rate will also rise because of the crisis.