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Egypt’s Unemployment Rate Eases Slightly to 12.4 Per Cent – Capmas

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Egypt’s unemployment rate eased slightly in the fourth quarter of 2016 to 12.4 per cent from 12.6 per cent in the third quarter, state statistics agency said on Wednesday.

The unemployment rate also declined from the 12.8 per cent recorded in the same period of 2015.

According to a statement by the Central Agency for Public Mobilization and Statistics (CAPMAS), the number of unemployed persons stood at 3.59 million persons, decreasing 49,000 persons from the previous quarter.

Meanwhile, the labour force stood at 25.5 million persons, increasing by 299,000 persons from the previous quarter, and marking a 757,000 increase from the number recorded in the same period of 2015.

CAPMAS reported that 8.5 per cent of the male labour force is unemployed, decreasing from 8.7 per cent during the previous quarter. Unemployment rate among the female labour force, however, inched to 25.3 per cent, as opposed to 25.9 per cent during the same period last year.

CAPMAS reported also a decrease in unemployment rate in urban areas; 14 per cent, as opposed to 14.2 per cent during the previous quarter.

Almost 79.1 per cent of those unemployed belong to the youth segment, aged between 15 and 29, and educated segment make up the majority of the unemployed sector; 88.4 per cent.

Egypt suffers from a relatively high unemployment rate and has been struggling to restore economic growth since a 2011 uprising toppled autocrat Hosni Mubarak.

Credit: All Africa

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