Economics

Egypt’s unemployment rate fell by 09% in 2019: CAPMAS

CAIRO – 15 February 2020: Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Saturday that Egypt's unemployment rate fell by 0.9 percent in 2019.
According to a statement released by CAPMAS that the unemployment rate reached 8 percent in the fourth quarter of 2019 compared to 8.9 percent in the same period a year ago.
The number of jobless people reached 28.950 million people during the last quarter of 2019, the statement added.
In the third quarter of 2018, the unemployment rate declined 1.9 percent, compared to the same quarter of 2017, and in the first quarter, it decreased 1.4 percent, compared to 12 percent in the same period of 2017.
Head of Sustainable Development Unit at the Ministry of Planning, Howaida Barakat, stated in September that Egypt's unemployment rate witnessed an unprecedented decline, recording 11.3 percent in 2017/2018. She added that this rate is expected to reach 8.4 percent in 2022.
The Finance Ministry also said that the unemployment rate is anticipated to reach 7.1 percent in June 2022, down from 9.9 percent in June 2018.
Egypt’s budget seeks to lower the unemployment rate to 10.4 percent with an inflation rate of 13 percent.
Egypt 2030 Vision aims to reduce unemployment from the current percentage to 4 percent.
Planning Minister Hala el-Saeed previously said that Egypt aims to provide about 750,000 job opportunities in 2018/2019 by developing the absorptive capacity of the labor market to gradually provide 870,000 opportunities in 2021/2022.
In 2017, Egypt’s unemployment rate slipped to 11.8 percent, compared to 12.5 percent in 2016.



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