Poverty and Unemployment
Poverty and unemployment are both endemic in Zimbabwe, driven by the shrinking economy and hyper-inflation. Poverty rates run near 80%. While the unemployed in ranked as the world's largest, at 95%
As of January 2006, the official poverty line was ZWD 17,200 per month (US$202). However, as of July 2008 this had risen to ZWD 13 Trillion per month (US $41.00) . Most general labourers are paid under ZWD 200 Billion (US 60c) per month. A nurse's salary in September was Z$12,542 (12 US cents), less than the cost of a soft drink.
The lowest 10% of Zimbabwe's population represent 1.97% of the economy, while the highest 10% make 40.42%. (1995). The current account balance of the country is negative, standing at around US -$517 million.
Read more about this topic: Economy Of Zimbabwe
Famous quotes containing the words poverty and, poverty and/or unemployment:
“We have two useless gods who never leave our island, but like to dwell in it constantly, Poverty and Helplessness.”
—Herodotus (c. 484–424 B.C.)
“Better to go from poverty to riches than from riches to poverty.”
—Chinese proverb.
“When a great many people are unable to find work, unemployment results.”
—Calvin Coolidge (1872–1933)