The latest labor statistics show the stubbornness of the unemployment problem in this country in the face of a respectable growth rate. This has forced the country’s Chief Executive to call for a meeting of his official family to discuss the issue. Indeed the level of unemployment and under-employment in this country which involves no less than a quarter of the working force rooted in underperforming sectors of the economy is the primary cause of the income maldistribution and high poverty rates.
The consensus of most economists here and abroad with regard to the local unemployment situation appears to have the following key features:
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