One out of Three is Unemployed in FYROM

in FYROM news / by D-Mak / on March 24, 2010 at 3:39 am /

One out of Three is Unemployed in FYROM according to the Statistical Office of the country. The unemployment rate in FYROM, which in 2009 amounted to 32.2%, had been reduced by 3.4%, in relation to the corresponding statistics of 2008.

Despite this decrease, FYROM has got one of the highest unemployment rates in Europe, mainly due to the closure or shrinkage of several production units during the past decade.

Two years ago, the State’s Administration procceeded in a significant reduction of corporate taxes and launched an advertising campaign abroad to attract foreign investors, in order to revive the economy and reduce Unemployment rates.

However, as reported by a part of the press in Skopje, government’s ambitious program to attract foreign investment due to the global economic crisis is likely to fail completely, since most foreign investments who were initially announced either canceled or finally postponed.