The estimate of the size of the labor force recorded 29.115 million individuals, compared to 29.284 million individuals during the previous quarter, marking a decrease of 0.6 percent.
CAPMAS said in a statement, Wednesday, that the unemployment rate among young people between the ages of 15 and 29 reached 15 percent of the total workforce in the same age group, compared to 16.7 percent in 2019.
CAPMAS attributed the increase to ramifications of coronavirus crisis and the precaution measures taken by the government.
Egypt Today reviews the most important pieces of information included in the plan.
The report revealed that the size of the workforce reached 27.968 million people.
Egypt Today reviews the most significant figures in the IMF’s report.
Egypt’s 2019/2020 budget targets a growth rate of 6 percent, which will be reflected on the unemployment rate, according to Planning Minister Hala el-Saeed.
Egypt embarked on a bold economic reform program that included the introduction of taxes and cutting energy subsidies to trim the budget deficit.
IMF forecasted in a report released in Bali on the sidelines of the autumn meetings of IMF and World Bank that the growth rate in Egypt will hit 6 percent in 2023.
Egypt's unemployment rate witnessed an unprecedented decline, recording 11.3 percent in 2017/2018,
Egypt’s unemployment rate has dropped to 11.9% in 2017, Manpower Minister Mohamed Saafan said in statements on Wednesday.
The unemployment rate in Egypt is expected to decrease to 6.7 percent by 2021, according to a video released by the information and decision.