Iraq economy 'on track' says IMF - Unemployment across Iraq at between 30 and 60 percent

[NNN0LHI]

http://news.bbc.co.uk/2/hi/business/7789573.stm

Thursday, 18 December 2008

Economic development in Iraq in 2008 has been "encouraging" according to a review of the country's economy by the International Monetary Fund (IMF).

Improved security and a more stable political environment mean economic activity has "picked up" on the back of increased oil production and exports.

IMF deputy managing director Takatoshi Kato said the authorities had kept the economic programme "on track".

But the IMF warned that the sharp drop in the price of oil may stall progress.



http://www.mcclatchydc.com/100/story/53290.html

Cost of massive unemployment in Iraq could be paid in blood

Posted on Tuesday, September 30, 2008

BAGHDAD — For Raad Abdulsada, every day starts the same way. He wakes up at sunrise, heads to a busy, dusty corner in Baghdad's Karrada neighborhood and waits for work.

Most days, the waiting is in vain.

"Maybe once a week I am hired," said the 31-year-old, his pink polo shirt and torn sweatpants stained with dirt. When he's lucky enough to get picked up, his compensation for a day of labor — usually construction work — is around 15,000 Iraqi dinars, or $13.

"I support a family of seven on this," Abdulsada said. "But for years I cannot get a steady job. So what else can I do? I have responsibilities. So I come here and wait."

Abdulsada's struggle is anything but rare here. Though precise figures don't exist, most approximations put unemployment across Iraq at between 30 percent and 60 percent. U.S. officials estimate that well over half of Iraqis who want to work can't find jobs.

[hobbit709]

1. The neocons got what they wanted

And everyone else pays the price.

[jimshoes]

2. If it's any consolation Abdulsada,

dubya's made a mess of things here as well.