Lebanon faces growing unemployment

ENAR

The last study on unemployment in Lebanon—conducted by Lebanon’s Central Administration of Statistics (CAS) in partnership with the International Labor Organization in 2018- 2019—revealed a general unemployment rate of 11.4 percent, reaching as high as 23.3 percent for youth. In light of the past few months, there can be no doubt that these percentages have worsened. The country is facing an economic crisis characterized by the untethering of the lira to the dollar in the parallel exchange market and restrictive banking policies, with measures against transferring money abroad and extending credit facilities being the most damaging to businesses. These factors have taken their toll on Lebanese businesses, many of which had already been suffering under less than optimal economic conditions over the last few years. As the crisis unfolded over the past five months, many business owners and managers have reduced the salaries and working hours of their employees, with