Unemployment rate rose to 7.8% in 2010

10 years, 6 months ago - March 29, 2011

The unemployment rate in Mauritius increased to 7.8 in 2010 from 7.3 a year earlier, official data showed on Tuesday.

The global economic downturn has hurt the tourism sector on the Indian Ocean island and demand for key exports such as textiles.

Analysts say, however, that two government stimulus packages and an easing of monetary policy last year have helped the economy weather the crisis better than expected.

"The unemployment rate stood at 7.8 percent in 2010 compared to 7.3 percent in 2009," the Central Statistics Office said.

Government data showed a total of 45,200 unemployed in 2010.

Mauritius' central bank raised its benchmark lending rate by 50 basis points to 5.25 percent on Monday in an attempt to curb inflation and revised its 2011 economic growth forecast upwards to 4.6 percent.

Last November, Finance Minister Pravind Jugnauth unveiled a budget for 2011 which he said was aimed at rebalancing growth and protecting the island nation from volatility in its key European markets.

Text by Reuters

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