Unemployment among youngsters exceeded 70% , report says

The business climate in Algeria has relatively improved in some areas of the country concerning some sector of activities including services and food processing that increased by 9 points in comparison to mast month, while public works and building sectors lost 4 and 24 points respectively, monthly figures released by the Companies’ Managers Forum reveal.

• The document shows that October’s index related to production in the sectors of industry and public works registered positive results over the period of October in comparison to the sector of services that remained flat during the same period despite the growing demand.
• The improvement of the business climate in Algeria over the period of October is due, the report says, to the positive figures registered at the regional level with 10 points in the center and 15 in the western parts of the country.
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• But this embellishment is momentary due to the volatility of the situation over the period September 2011 and the same period of the current year, since positive results were posted between September 2011 and February 2012, before worsening again in between March 2012 and September 2012, the Forum adds.
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• The experts have insisted on the necessity to draw up a new economic strategy likely able to overhaul the Algerian economy that suffers lethargy since decades. They have dwelt on a battery of suggestions forwarded to the successive governments with the view to remedying the situation.
• The experts blamed what they called “ administration economic bureaucracy” that stood as an impediment to development in Algeria and the creation of sustainable jobs for youngsters whose unemployment rate has exceeded 70% among the category of age less than 24.