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Unemployment on the decline

Dec 22, 2010 4:01:35 AM - itnnews.lk

Sri Lanka’s unemployment declines. According to the Finance Ministry unemployment had been 5.4 percent in the first quarter of this year.

In 2002 unemployment stood at 8.8 percent. The Finance Ministry attributed the decline in unemployment to the rapid economic development which was taking place with the end of the war. A major renaissance is witnessed in the tourism industry. In addition many large scale development projects have also being launched. A programme to uplift infrastructure is also in place. The Finance Ministry pointed out that these factors had contributed to the decline in the unemployment rate.