Unemployment
Despite the global challenges, Egypt has succeeded in confronting unemployment, which has declined from 13 percent in 2014 to 6.4 percent at present, said Abdel Wahab Khedr, the media advisor to the Ministry of Labor.
This increase is attributed to a rise in employment by 694,000 and an uptick in unemployment by 101,000, pushing the total labor force up by 795,000.
That is the Vocational Training Fund.
The National Initiative for the Development of Egyptian Industry "Ebdaa" [which translates to start] was launched during the First International Industry Forum and Exhibition on October 29, 2022, to work primarily to support and localize national industries.
Minister of Social Solidarity Nevine al-Qabaj made key statements Tuesday on irregular workers.
It pointed out that 7,240,077 men and women got employed during that period.
The ministry equally noted that 7,240,077 citizens had been employed locally and abroad between 2014 and 2023.
The unemployment rate was 7.1 percent in the third quarter of 2023 and 7.2 percent in the corresponding quarter of 2022.
CAPMAS further disclosed that the labor force in Egypt grew during the third quarter, with a total of 31.956 million individuals actively participating in the workforce.
The Monetary Policy Committee of the Central Bank of Egypt decided, Thursday, to raise its interest rates by 1 percent.
This came as Egyptian Minister of Finance, Dr. Mohamed Maait confimed in the financial statement on the state’s draft general budget for the fiscal year 23/24 submitted to the House of Representatives.
The Ministry of Social Solidarity signed Monday contracts with 10 NGOs to contribute to the creation of 50,000 job opportunities.
The estimated size of the labor force recorded 30.344 million individuals, compared to 30.264 million individuals during the previous quarter, with an increase of 0.3 percent.
The estimated size of the labor force recorded 30.264 million individuals, compared to 29.985 million individuals during the previous quarter, with an increase of 0.9 percent.
Egypt's Economic Conference revealed the government’s efforts to eradicate poverty, confirming that the unemployment rate in Egypt recorded its lowest level in 20 years during the second quarter of 2022 to settle at 7.2%.
Those are direct and indirect jobs.
The estimated size of the labor force recorded 29.985 million individuals, compared to 29.895 million individuals during the previous quarter, with an increase of 0.3 percent.
The report indicated that the budget spent until Decent Life's launching in 2021 amounted to LE 100 billion.
This review shows indicators of Egypt’s economic growth rates before and after the Russian war on Ukraine.
The study categorizes workers into blue-collar and white collar, and classifies them according to age, gender, level of education, geographical location, and sector.
