ICEC

Egypt’s unemployment declines to 11.3% in Q4 of 2017

Egypt’s unemployment rate declined to 11.3 percent in the fourth quarter (Q4) of 2017, compared to 12.4 percent in the same period of 2016, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

The CAPMAS report said that the unemployed decreased by 282,000 to reach 3.3 million in Q4 on a year on year basis.

On a quarter on quarter basis, the unemployed decreased by 204,000.

The report pointed out that the size of labor force increased on a year on year basis by 202,000 to record 29.27 million.

The unemployment rate in the third quarter of 2017 fell to 11.9 percent from 12.6 percent in the same quarter of 2016.

The Egyptian government has been exerting efforts recently to reduce unemployment rates. It aims to reduce unemployment from the current percentage to 4 percent, as part of the Egypt 2030 Vision.

President Abdel Fatah al-Sisi has pledged to reduce unemployment to 10 percent over the next few years.

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