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FINANCIAL NEWS
Egypt’s unemployment rate dips to 12pct in Q1
16 May 2017
(MENAFN) Unemployment rate in Egypt eased to 12 percent in the Jan-March period of the year from 12.4 percent in the previous quarter, as proclaimed state statistics agency CAPMAS.
However, the country has been struggling to restore economic growth since political uprising in 2011, while President al Sisi has pledged to cut joblessness to 10 percent by 2018.
Meanwhile, the nation’s labor force increased by 71.000 people in the cited period to reach 29.15mn people, which is less than a third of the N. African nation’s more than 92mn people.
On the other hand, the joblessness rate has been falling for a while due to more job chances being made amid national projects being implemented.
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MENAFN1605201700450000ID1095482133
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