RAMALLAH, June 8 (JMCC) - A United Nations agency reported Wednesday that the Palestinian economy continues to struggle with unemployment and inflation, despite claims of an economic boom.
UNRWA, which works with Palestinian refugees, said that higher than expected growth in 2010 provided a misleading view of the West Bank economy, where restrictions on movement continue to depress trade and commerce, said the
The report said the unemployment rate in the West Bank stood at 25 percent in the second half of 2010, up from 23.5 percent in 2009.
For Palestinians in the West Bank classed as refugees, the unemployment rate was even higher, standing at 27.9 percent, according to the report.
And it said that rising consumer inflation, which stood at 2.3 percent in the second half of 2010, caused a further slide in the purchasing power of wage incomes among Palestinians in the West Bank.
The agency said the figures provided a stark counterpoint to claims of an economic boom in the West Bank.