Comparing to the first quarter of 2019, the unemployment rate decreased 0.4 percent.
The number of jobless people reached 28.950 million people during the last quarter of 2019, the statement added.
Within the framework of the initiative, Banque Misr provides distinct financing schemes ranging from LE 1 million up to LE 20 at a 5 percent simple diminishing return to cater for the needs of the small- and medium-scale enterprises (SMEs).
The Central Agency for Public Mobilization and Statistics (CAPMAS) said the jobless rate declined in the second quarter of 2019 to 7.5 percent of the workforce, compared to 8.1 percent in the first quarter of the same year.
Madbouli stated in the Cabinet weekly meeting that the growth rate during the last fiscal year recorded 5.6 percent.
Many women lost their jobs to men when shifting from an agrarian to an industrial society.
The Ministry of Social Solidarity said that 4 million jobs were provided through anti-unemployment programs and projects during the last 10 years.
Despite it leading to dwindling personal purchasing power, the decline of the local currency against the dollar has been proving a goldmine for local manufacturers.
On a quarter on quarter basis, unemployment rate also dropped 1.1 percent from 10 percent in the third quarter of 2018.
Migrant workers account for 41 per cent of total regional employment, and in GCC countries more than half of all workers are migrants, on average.
Economic growth rose from 4.2% to 5.3% during the 2017/2018 fiscal year, while unemployment rate declined from 12% to 9.9%.
On a quarter on quarter basis, unemployment rate increased 0.1 percent from 9.9 percent in the second quarter of 2018.
Wali explained that 55 foreign entities provided 151 grants to 112 NGOs in Egypt.
This initiative comes as part of the social responsibility of the private sector within the framework of supporting the state strategy to eliminate unemployment
Minister of Supply and Internal Trade said July 3 that procedures and guidelines governing the addition of new born children to ration cards will be put in place and announced July 11.
President Abdel Fatah al-Sisi has previously also noted that the rapid increase in population is also affecting the economic reforms, and are slowing them down.
Egypt’s unemployment rate declined 1.4 percent during the first quarter of 2018 to 10.6 percent, compared to 12 percent in the same period of 2017.
In Cleveland, a new road has been redesigned as an “Opportunity Corridor” to bring businesses and jobs to poor neighborhoods along its way.
That was still the fewest amount of jobs created in six months and followed an outsized gain of 324,000 in February.
Saudi Arabia aims to create 1.2 million jobs by 2022 by focusing on the retail sector in order to reduce unemployment to 9 percent.