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Egypt's jobless rate falls to 12.7 percent in Q1 2016: CAPMAS

Ahram Online , Sunday 15 May 2016
Egyptian workers
Egyptian workers sew garments together at a cotton garment factory in Cairo (Reuters)
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Egypt's unemployment rate inched downward to 12.7 percent in the first quarter of 2016 compared to 12.8 percent registered in both the first and last quarters of 2015, official statistics agency CAPMAS announced on Sunday.

Egyptian officials hope to reduce unemployment to less than 10 percent and are targeting a growth rate of at least 6 percent by the end of the 2018/19 fiscal year.

According to the ministry of planning, Egypt's GDP growth rate slowed to 2.2 percent in the final quarter of 2015, compared to 3.7 percent during the same period a year earlier. 

Unemployment among 15-29 year olds reached 27.3 percent of the workforce.

Compared to the first quarter of 2015, the Egyptian workforce grew 2.6 percent to a record 28.4 million people in the first quarter of 2016.

 The CAPMAS report noted that unemployment among females is 25.7 percent, while unemployment among males is 8.9 percent.

Urban unemployment amounted to15.2 percent, compared to 10.9 percent in rural areas.

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Al
15-05-2016 03:00pm
112-
3+
Thanks to the Protest law
A smart government always develops multiple alternatives to grow the economy and reduce unemployment. Sisi’s government realized that ‘Plan A’ of building a real economy and cutting unemployment to 5% as they promised, didn’t pan out. They reverted to ‘Plan B’, which is a genius way to reduce unemployment, and also headaches to the police state; the more youth they jail for protesting and demonstrating the lower unemployment rate goes. Paying unemployment benefits or jail subsistence are about the same in Egypt, but the later makes the numbers look better!
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