Egypt unemployment rate declines to 6.5% in Q2 2024

MENA , Thursday 15 Aug 2024

Egypt’s unemployment rate has declined to 6.5 percent in the second quarter (Q2) of 2024, nearly a 0.2 percent decrease compared to Q1, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Thursday.

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The country’s workforce grew from 31.3 million to 31.4 million during the April-June period.

This resulted in a decline in the number of unemployed individuals to 2.058 million in Q2, representing 6.5 percent of the total labor force, MENA reported.

This growth in employment was observed across urban areas, contributing 13.8 million to the workforce, and rural regions, accounting for 17.5 million.

As a result of this increase, the number of unemployed individuals decreased by 46,000 individuals (2.2 percent) compared to Q1 of 2024 and by 111,000 individuals (5.1 percent) compared to the same quarter of 2023.

Despite the overall decline in unemployment, the labor force remains predominantly male, with male unemployment dropping to 4.2 percent, while female unemployment rose to 17.3 percent, remaining consistent with the previous year, the agency announced.

Unemployment among individuals aged 15-19 years slightly increased to 7.4 percent, up from 7.3 percent in Q1.

Similarly, the unemployment rate for the 25-29 age group rose to 26.3 percent, up from 24.2 percent in the Q1.

However, the rate for those aged 20-24 years saw a significant decrease, dropping to 30.5 percent from 33.0 percent in Q1.

In addition, the unemployment rate in urban areas increased to 10.0 percent, up from 9.4 percent in Q1, while rural areas experienced a decrease to 3.8 percent, down from 4.6 percent.

 

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