Business

Economist warns of growing disparity

June 23, 2023 4:45 pm

[File Photo]

Economist Dr Neelesh Gounder has calculated that the unemployment rate among the youth in Fiji has skyrocketed, reaching an alarming 18 to 20 percent.

Contrastingly, the national unemployment rate overall remains relatively lower, estimated to be around five to six percent.

However, Dr Gounder emphasizes that economic growth over time is the most effective approach to alleviating poverty.

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“Is there only a small group of people benefitting from that growth and incomes? Are the people IN the Central Division benefitting from the growth in income? How is that growth in income distributed between different divisions in Fiji?”

While continuous and sustained economic growth is crucial, Dr Gounder raises the pertinent question of where the fruits of this growth are being directed and who is reaping the benefits.

Policy Advisor to the Prime Minister’s Office, Kemueli Naiqama sheds light on the gravity of the situation.

“We have to study the strength of our population, look at demographic dividends opportunity and harnessing through education, health initiatives. We have to appreciate and strengthen the use of population data for sound decision-making.”

Naiqama states that according to 2019-2020 Household Income and Expenditure Survey, a staggering 30 percent of our population living below the poverty line are young individuals.

This statistic highlights the urgent need to address the challenges faced by our youth, as they are the future of our country.

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