Algeria's National Unemployment Insurance Fund (CNAC) announced Wednesday (March 7th) that since 2004 it has helped create more than 5,000 small and medium-sized enterprises (SMEs). The initiative contributed to the creation of approximately 15,000 jobs as part of the mechanism for employment creation targeting individuals between the ages of 30 and 50. CNAC pointed out that in combination with more than 81,000 SMEs set up by the National Youth Employment Support Agency (ANSEJ) which created more than 231,000 jobs nationwide by the end of 2006, the initiative has contributed to a tangible decline in unemployment in Algeria. According to official statistics the country's unemployment rate dropped to 12.3% in 2006 compared to 15.3% in 2005 and 17.7% in 2004.