MINING INDUSTRY, Fall of exports leads to job losses

The fall in exports of metals from the mining industry, caused by the ongoing global crisis, as well as significant falls in trading prices, have led to a reduction in the number of the employees in this sector, reports the local press (Tema, 1.07.2009), based on information released by the Ministry of Economy (MoE). Data from this Ministry report that the rate of job losses in this sector since the beginning of the year has amounted to 4 %. But MoE believes this percentage to be low compared to job losses in this sector in other countries which are being more adversely affected by the economic crisis.
On a year to year basis the landslip is even deeper. Tema reports that the mining industry has lost almost 8 % of its jobs in the first quarter of 2009, as compared to the first quarter of 2008. The loss of jobs began in late 2008 (autumn 2008, according to the newspaper).
Tema reports difficulties in other exporting sectors, such as textiles, shoe and confection industries, which show a job loss rate of 10 % in the first quarter of 2009, as compared to the first quarter of 2008.