Unemployment in Lebanon
Lebanon - UnemploymentThe economy remained deeply depressed in Q3, hit by a combination of the currency crisis, Covid-19, and heightened political and social instability. The downturn was accentuated by the Beirut port explosion on 4 August, which caused billions of dollars of damage and left hundreds of thousands of people temporarily homeless. The private sector PMI was mired in contractionary territory throughout the quarter, amid declines in output and new orders. Turning to Q4, prospects appear bleak, as fresh Covid-19 restrictions were implemented in mid-October, including local lockdowns and the nationwide closure of bars and nightclubs. In politics, former PM Saad Hariri was recently tasked with forming a government, and has pledged to form a technocratic cabinet to implement the structural reforms necessary to secure vital international funding.
Lebanon - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Lebanon Unemployment Chart
Source: Statistical, Economic and Social Research and Training Centre for Islamic Countries.
|Exchange Rate||1,513||0.0 %||Dec 31|
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June 22, 2020
Economic conditions have deteriorated significantly in recent months amid spiraling inflation, the Covid-19 pandemic and sociopolitical instability, after the country defaulted on its debt for the first time ever in March.