Palestine Economy Portal

A research study issued by the Arab Monetary Fund revealed that the economies of Arab countries are expected to lose about 6 million jobs in 2020, under the pressures of the Corona pandemic. The study indicated that the economy requires a growth of 4 percent at minimum to create new job opportunities.

The study "Assessing job losses due to the Corona pandemic and estimating the minimum required for economic growth to create jobs in Arab labor markets." found that the Arab economies are expected to contract at a rate of 4 percent in 2020, and accordingly, "the Arab region is expected to lose about 6 million jobs in 2020," according to the Anadolu news agency.

The study said that losing this amount of jobs would increase the unemployment rate by no less than four percentage points across the Arab countries as a group, compared to the levels recorded before the pandemic.

The fund estimated that creating enough new jobs to reduce the unemployment rate in the Arab region requires economic growth of 4 percent as a minimum.