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FINANCIAL NEWS
Over 15m young people to vie for jobs in MENA in 10 yrs: E&Y
29 Feb 2012
(MENAFN) Ernst & Young said that over the coming 10 years, more than 15 million young people would apply for jobs in the Middle East and North Africa (MENA) region, reported Gulf News.
The company added that governments in the region would need to develop the non-oil economy to meet the forecasted growth.
It also said that over the period, the average annual growth rate in the labor force in the region is forecasted to be about 2 percent.
It is worth noting around 40,000 annual direct and indirect new jobs can be created in the short term for every USD1 billion spent on infrastructure projects, according to the International Monetary Fund (IMF).
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