Egypt’s jobless rate drops to lowest level in 2 decades – PM

Prime Minister Moustafa Madbouly announced that Egypt’s unemployment rate fell to 6.4 per cent in the last quarter of the current fiscal year, the lowest level recorded in the past 20 years.

Speaking during the weekly press conference on Wednesday, Madbouly highlighted that the unemployment rate had stood at 13 per cent in 2014 and has since been reduced by more than half.

Addressing youth employment, the prime minister stated that the jobless rate among individuals aged 15 to 29 currently stands at 14.2 per cent, a significant drop from the 26.5 per cent recorded ten years ago. He emphasised that these figures are compiled in accordance with international standards and are subject to review by various global institutions.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama