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FINANCIAL NEWS
Egypt’s unemployment rate grows to 12.7 percent
16 May 2016
(MENAFN) Egypt’s unemployment rate eased slightly in Q1 of 2016 to reach 12.7 percent from 12.8 percent in the previous quarter.
Furthermore, the country struggled to restore economic growth since a 2011 uprising collapsed autocrat Hosni Mubarak.
Accordingly, it will reduce joblessness to 10 percent over the coming years, a target that will require higher levels of economic growth.
In addition, Egypt’s labor force increased by 99,000 people in the cited quarter to reach 28.4mn people.
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