2.5% unemployment rate by 2013

Will the government be able to achieve 2.5 percent unemployment rate, like they promised, with less than a year left before their term is over?

The Labour Minister, Dorji Wangdi, said they are well on track to achieve the target before the end of their term in the office.

The unemployment rate was at 4.2 percent in 2008. It dropped to 3.7 percent in the following year. By 2010, it was at 3.3 percent. The rate dropped to 3.1 percent last year.

But, the decreases in the unemployment rates are marginally narrow. Lyonpo Dorji Wangdi said, the trend is normal. “You cannot expect significant reduction. It can be marginally lower or at the same rate, could even go higher because the odds are increasing by leaps and bounds and therefore to make a big headway towards reduction of the figure is very difficult.”

A 2012 Labour Force Survey report, which is the basis for overall national unemployment scenario, is currently being readied to be released in a week’s time.

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