A new report from the United Nations agency for Palestinian refugees says the West Bank's economy is not doing as well as recent reports suggest.

The report says accelerating unemployment and a decline in the purchasing power of working people's wages are slowing economic growth.

The report, released Wednesday, says that although employment in the West Bank grew by about 2.6 percent last year, the number of unemployed rose faster, increasing by 11 percent. It adds that real wages, or earnings that are adjusted for inflation, dropped about 3 percent on average.

It says the overall rate of unemployment for West Bank Palestinians was 25 percent in the second half of 2010, while the unemployment rate for those classifed as refugees was even higher at 27.9 percent.

Israeli Prime Minister Benjamin Netanyahu recently said the West Bank's economy was booming, despite Israel's curbs on trade and movements of people in and out of the Palestinian territory.

The International Monetary Fund estimated the annual growth of the Palestinian economy reached more than 9 percent in 2010, exceeding the Palestinian Authority's expectations.