Egypt’s unemployment rate falls 8.9% in Q4-2018: minister

Egypt’s unemployment rate dropped from 13.3 percent during the second quarter of 2014 to 8.9 percent during the fourth quarter of 2018 because of executing a number of national mega projects within the current period, Manpower Minister Mohamed Saafan said on Monday.

In a meeting in Suez with representatives from oil companies, minister Safaan said that more than 2 trillion pounds have been allocated from July 2014 to December 2018 to carry out 9,039 projects.

A total of 4 trillion pounds have been allocated to establish national mega projects from 2014 to 2020, he added.

Saafan noted that his ministry developed 51 training centers, including 13 mobile ones, with the aim of honing youth’s skills to meet labor market needs.

Source: MENA & Ahram Online